"The Eurozone will exist without Greece"
"The Eurozone will exist without Greece"
In an interview earlier today on Austrian public television, Austrian vice Chancellor, Foreign Minister and leader...
UPD:
In
an interview earlier today on Austrian public television, Austrian
vice Chancellor, Foreign Minister and leader of the co-governing (with
the Social Democrats) conservative People's Party, Michael Spindelegger,
said the Eurozone could continue to exist without Greece and to that
end, officials should do all they can to keep the euro.
He added that a study by the German Ministry of Finance concludes that otherwise, without the euro, unemployment in Austria would grow by nine percentage points and the GDP would decrease by one tenth.
Spindelegger expects the Austrian parliament to vote for the ESM next Wednesday, which he said is a kind of a European Monetary Fund and in fact, the "rescue umbrella" for problematic countries.
UPD:
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