Tuesday, 16 June 2015

Grexit Beckons: Greece On Brink of Euro Exit as It Faces Economic Meltdown

THE TELEGRAPH: Embattled country could be forced out by Germany after politicians warn 'enough is enough' as it lurches towards default on €1.5bn debt

Greece is on the brink of economic meltdown after Germany appeared poised to push the country out of the eurozone.

With the embattled country set to default on a €1.5billion (£1.1billion) debt repayment, senior German politicians warned that “enough is enough”.

London’s FTSE 100 slipped 1.1 per cent to a three-month low on Monday as investors reacted to Greece’s failure to reach a deal with its creditors.

Global oil prices also fell after negotiations collapsed after just 45 minutes on Sunday, amid fears that Greece is now heading towards financial catastrophe.

As the crisis intensified, it emerged that George Osborne, the Chancellor, will later this week chair an emergency meeting as ministers seek to protect Britain’s economy from a potential Greek exit from the single currency - dubbed a Grexit.

Officials want to ensure that the Government has “contingency plans” in place to ensure that UK businesses are not damaged by a Greek withdrawal. » | Peter Dominiczak, Political Editor | Tuesday, June 16, 2015

THE TELEGRAPH: Enough is enough, Greece must leave the euro: The Greek debt crisis is now five years old, and still there is no workable settlement in sight. One apparent denouement follows another, lending Europe a sense of permanent crisis and conflict, not so dissimilar to an outright war, at least in terms of the entrenched positions adopted and the vitriol of the language. » | Telegraph View | Tuesday, June 16, 2015

DIE WELT: Merkel will "alles tun", um Griechenland zu halten » | Mittwoch, 17. Juni 2015