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Greece could quit the euro, admits Merkel as global markets are plunged into turmoil

Posted By admin On May 15, 2012 @ 3:22 am In Money Watch | Comments Disabled

UK Daily Mail [1]
Tuesday, May 15, 2012

Tens of billions of pounds were wiped off shares yesterday as Angela Merkel conceded for the first time that Greece could be forced to quit the euro.

The German chancellor suggested that European support for Greece would ‘end’ unless Athens held to the punishing bail-out terms agreed with Brussels and Berlin.

Her warning came amid mounting speculation that Greece could be forced out of the single currency within weeks – plunging both Athens and the single currency into crisis.

Observers have dubbed the possible departure as the ‘Grexit’ and one Greek minister last night warned the crisis could result in ‘civil war’, with Kalashnikov-toting gangs roaming Athens.

Greek newspaper Imerisia reported that the government has just £1.2billion left in its coffers – enough to continue for only a few days.

Full article here [1]

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URLs in this post:

[1] UK Daily Mail: http://www.dailymail.co.uk/news/article-2144074/Eurozone-crisis-Angela-Merkel-admits-Greece-quit-euro.html

[2] Greece should quit euro unless “massive” funding given: Czech: http://www.prisonplanet.com/greece-should-quit-euro-unless-massive-funding-given-czech.html

[3] Greece hit by new riots as pressure grows to quit euro: http://www.prisonplanet.com/greece-hit-by-new-riots-as-pressure-grows-to-quit-euro.html

[4] Euro in danger as the Greek crisis deepens and Merkel admits currency is at risk: http://www.prisonplanet.com/euro-in-danger-as-the-greek-crisis-deepens-and-merkel-admits-currency-is-at-risk.html

[5] Greece Considers Exit from Euro Zone: http://www.prisonplanet.com/greece-considers-exit-from-euro-zone.html

[6] Greece urged to give up euro: http://www.prisonplanet.com/greece-urged-to-give-up-euro.html

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