Greece’s exit from the eurozone will cost Britain a crippling £230billion and its economy further plunge into recession, experts have warned.
The analysis by Bank of America and Merrill Lynch predicted the Bank of England would have to print another £200billion in a bid to boost the economy. This would be on top of £325billion already pumped out by the Bank in recent years.
Merrill Lynch UK economist Nick Bate said the Eurozone economy would plummet by around four percent if Greece is forced out.
The news comes days after it emerged the UK’s double-dip recession is deeper than originally thought.
Meanwhile Home Secretary Theresa May said Britain was looking at how to cope with an influx of immigrants if countries like Greece went bust.