George Osborne, the Chancellor, has warned that the impact of a Greek exit
would be “as difficult perhaps as any our country or our continent has faced
outside of war”. In the short term, the value of savings, investments and
pensions tied up in stocks and shares would suffer from the inevitable
market turmoil that would follow a disorderly Greek exit from the euro. The
cost of borrowing for British consumers would also rise while the
availability of credit, such as loans and mortgages, would be further
restricted because of the exposure of British banks to the eurozone turmoil.
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