Leaving eurozone will be nightmare: Greek PM
Sat Sep 22, 2012 4:49AM
An exit from the eurozone is not a choice for Greece, it's a nightmare. For us it's not an option, it's a total disaster." Greek Prime Minister Antonis SamarasGreek Prime Minister Antonis Samaras has said that exiting the eurozone is not an option and would be a "nightmare” for his country. Samaras made the remarks at a meeting of leading European Christian Democrat and centrist politicians in Rome on Friday. “An exit from the eurozone is not a choice for Greece, it's a nightmare. For us it's not an option, it's a total disaster," Samaras said. “And it's not going to be easy for the rest of our partners, because once a country is out of the eurozone, speculators will start hitting the next weakest link, then the next one,” he added. In addition, Samaras said Greece has resources to recover from its economic crisis. Greece has been at the epicenter of the eurozone debt crisis and is experiencing its fifth year of recession, while harsh austerity measures have left about half a million people without jobs.
Greek banks are in a shaky position, and pensions and salaries have been slashed by up to 40 percent.Greek youths have also been badly affected, and more than half of them are unemployed. The long-drawn-out eurozone debt crisis, which began in Greece in late 2009 and reached Italy, Spain, and France last year, is viewed as a threat not only to Europe but also to many of the world’s other more developed economies. GJH/MA