‘Europe faces make or break moment’

“I think we’re at a make or break point in Europe,” Papandreou, who stood down as leader of the Pasok socialist party in March said on Sunday.

Papandreou added that the euro currency’s problems have gone far deeper than those of his own country, but it would be “catastrophic” for Greece if it had to leave the single currency area.

“We must leave behind all this nationalistic rhetoric about who’s to blame, whether it’s about the southerners or the austere Germans or whatever.”

He warned of the potential consequences of voting for parties that oppose Greece’s international bailout conditions, an act which could force the country out of the bloc.

“This would be a major catastrophe and this would have not only social but also political consequences, which I believe will make it much more difficult for Greece to reform,” he added.

The Sunday voting comes after the first round of the elections in May that failed to deliver a majority to any single party. Negotiations to form a coalition government also ended in vain.

Experts say a Greek departure would send shockwaves through global financial markets and drag down other ailing eurozone countries.

Greece has been in recession for five years, with the economy having shrunk by 15% over the past three years, the longest-running slump in modern times.

PG/PKH/MA

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