Bank of Greece foresees ‘uncontrollable crisis’ if talks fail
Next Eurogroup meeting on June 18 offers last chance
The Bank of Greece today (June 17) warned of the disastrous consequences if talks with creditors fail to yield an agreement and the economy crashes out of the eurozone.
Failure to reach an agreement would "mark the beginning of a painful course", leading to default, exit from the euro and "most likely" from the European Union as well.
"A manageable debt crisis, [such] as the one that we are currently addressing with the help of our partners, would snowball into an uncontrollable crisis, with
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Tombini warns of false sense of stability in markets
BIS official says participants need to price in significant uncertainty over economic policy
Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
A disjointed book where ‘I told you so’ new chapters add little to the excellent original analysis
Policy-makers lament uncertainty following US election
Speakers at Central Banking Autumn Meetings say policies will be marked by unpredictability
Minneapolis Fed chief shares concerns about tit-for-tat tariffs
Kashkari points to heightened risk of inflation but insists US economy is “strong”
DNB tells banks to test ‘extreme but plausible’ political scenarios
Geopolitical risks become focal point of Dutch supervision strategy
Prepare to supervise AI, BdF’s Beau tells financial authorities
Technology can enhance revenues but list of related threats remains long, says deputy governor
IMF paper tracks banks that are ‘keeping coal alive’
Pull-back of many lenders is leaving concentrated exposures and roll-over risk
Inflation in Turkey drops in October
However, pace of disinflation remains slow