Tuesday, 9 June 2015

Greece Warns EU Leaders: Allow Us to Fail and It's 'Beginning of the End' for Eurozone

DAILY EXPRESS: IN a stark warning to EU leaders, Greece has warned that if it's allowed to plunge into bankruptcy it would be the "beginning of the end" for the eurozone.

The debt-stricken country's Prime Minister, Alexis Tsipras, has raised the stakes as his government submitted yet another draft proposal to its creditors over the terms of an urgently-needed EU bailout loan.

Commenting on a potential Greek exit from the euro in an interview in Italy, Mr Tsipras said: "It would be the beginning of the end of the eurozone.

"If the European political leadership cannot handle a problem like that of Greece, which accounts for two per cent of its economy, what would the reaction of the markets be to countries facing much larger problems, such as Spain or Italy which has two trillion of public debt?"

He added: "If Greece fails markets will go now to look for the next. If the negotiation fails, the cost to European taxpayers will be huge." Read on and comment » | Lana Clements | Tuesday, June 09, 2015