Govt Spokesman: Greece Will Leave Euro if Second Bailout Fails

By on January 3, 2012 in Economy, News, Politics

Pantelis Kapsis

Greece will have to leave the eurozone if it fails to clinch a deal on a second, 130 billion euro bailout with its international lenders, a government spokesman said on Tuesday.
It was an unusually public stark warning from the embattled country, aimed at shoring up domestic support for tough measures and possibly also at the lenders themselves.
“The bailout agreement needs to be signed otherwise we will be out of the markets, out of the euro,” Kapsis told Skai TV, according to Reuters. “The situation will be much worse.”
“The next three to fourth months are the most crucial and that is the reason this government exists,” Kapsis said.

Referring to the issue with the two economic prosecutors, Kapsis stressed that the government΄s position remains that “all issues will be brought to light”, while now there is a question of justice and prosecutors should explain their stance. “If there are accusations, they must be brought to light.”

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  • Vielnick

    Greece warns? no she  enlightens the EU Nations and especially the Eurozone with the announcement which will strengthen the currency and the European economy.

  • Johngkk

    If the greek government decides to retrofit collective action clauses in its sovereign bonds, that really will be final straw for Greece or any Euro government looking to borrowing money.   How could any pensioner or investor trust any government after it simply hides behind its powers to change laws to the detriment of savers.   Most euro governments issue debt/bonds under domestic laws.  Disasters awaits!