Eurozone will shrink: Survey

The survey, conducted from May 26 to June 4, suggests that nearly 42% of the participants believe that the eurozone will shrink with weaker states leaving the bloc.

According to the poll, nearly 41% of the respondents said the euro will die soon as a single currency.

Meanwhile, only 17% of those polled think that the eurozone nations will manage to save the euro.

This is while the debt-ridden Greek nation is going to a decisive parliamentary elections on June 17, which could determine whether the country would continue to comply with the austerity measures it agreed to with its European neighbors in exchange for endorsement of a second financial bailout or not.

Speculations of Greece leaving the eurozone have gained wider scopes.

Standard and Poor’s (SP) credit ratings agency warned on Monday that there is “at least a one-in-three chance” that Greece would leave the eurozone in the coming months.

There are worries that more delays in resolving the eurozone debt crisis, which began in Greece in late 2009 and infected Italy, Spain and France last year, could push not only Europe but also much of the rest of the developed world back into recession.

AO/HJL

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