Greek exit from euro can cost UK £4.8bn

 

 

PressTV
Tue Jun 5, 2012

 

Britain is facing £4.8 billion in loans in case Greece leaves the euro zone despite earlier warnings from British officials calling on Greeks to leave the euro zone if they voted for anti-austerity left-wingers.

On Monday 4 June, the think tank Open Europe made a prediction that if the new Greek government decide to leave the single currency bloc, British taxpayers have to offer up to £4.8 billion because Britain would have no option but to help to bail out the country through the International Monetary Fund, reported The Independent.

A new legislative election in Greece is to be held on 17 June 2012 after a coalition government was unable to be formed following the election in May.

Open Europe said the cost of supporting Greece would be anything between £54 billion and £210 billion if the new government decides to leave the euro zone. Raoul Ruparel, Open Europe’s head of economic research said Britain would be “possibly underwriting between £3.2bn and £4.8bn of the entire rescue package”.

This comes as British Prime Minister David Cameron warned Greek voters that they should leave the euro zone in case they voted for anti-austerity left-wingers.

“They can vote to stay in the euro zone and meet their commitments or they can vote to give up on their commitments and in effect give up on the euro zone. This must be a moment of decisiveness”, said Cameron.

 

Related posts:

  1. ‘Greece out of euro’ calls multiply in Germany
  2. VOTE NO WHILE THE EURO DIES
  3. Leftist leader fails to form Greek government
  4. Interview revealing that even non-Eurozone countries will be expected to participate in shoring up the Euro
  5. Bilderberg Scheme To Save The Euro
  6. EU Titans To Address Euro Crisis At Bilderberg
  7. Nigel Farage: Euro Break-Up Inevitable, Just a Question of How

Views: 0

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes