Alan Greenspan says Greece will have to leave eurozone

[Eugene]

Source: Press Association

Alan Greenspan says Greece will have to leave eurozone

Only a matter of time until Syriza government is forced from euro, predicts ex-
Fed chief as UK chancellor drafts plans for Grexit fallout

Press Association
Sunday 8 February 2015 16.51 GMT

It is only “a matter of time” before Greece is forced out of the eurozone, the former US Federal Reserve chairman Alan Greenspan forecast. The prediction came as the UK chancellor, George Osborne, said Britain was “stepping up” contingency planning for dealing with any escalation of the crisis.

The former US central bank chairman said it was hard to see any other final outcome of attempts by the new leftwing Syriza government in Athens to renegotiate the terms of the country’s €240bn (£179bn) international bailout.

“I don’t see that it helps them to be in the euro, and I certainly don’t see that it helps the rest of the eurozone, and I think it is just a matter of time before everyone recognises that parting is the best strategy,” Greenspan told BBC Radio 4’s The World This Weekend.

Osborne, who held talks in Downing Street last week with anti-austerity finance minister Yanis Varoufakis, will join fellow G20 finance ministers at a summit in Turkey on Monday where the situation in Greece will dominate discussions.

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Read more: http://www.theguardian.com/business/2015/feb/08/alan-greenspan-greece-will-leave-eurozone

[shenmue]

1. Back to the drachma?

I hope it doesn't make things worse.

[katsy]

2. FU greenspan

He is what's wrong with the world.

Hope he leaves this galaxy.

[PoliticAverse]

3. Who? n/t

[Wellstone ruled]

4. Got to be getting nervous over at the Neo Con Nursing Home.

Those short bets against Greece are looking ugly.