Greek default would be ‘catastrophic:’ Politician

15-Apr (CNBC) — A debt default in Greece would be “completely catastrophic” and a scenario that Athens should avoid at all costs, an opposition member of the Greek parliament told CNBC Wednesday.

The clock is ticking for Athens to propose a package of reforms agreeable to its international lenders, which would see them release loans that the country desperately needs to stay afloat.

“I cannot assume or imagine this would be a conceivable option for Greece at the moment,” Kyriakos Mitsotakis, a Greek politician with the conservative New Democracy Party, in response to a question about who would be to blame if the country defaults on its loans, told CNBC on Wednesday.

“It would be a completely catastrophic scenario and I’m sure that the government would want to avoid that at all costs.”

[source]

Share
This entry was posted in Today's top gold news and opinion. Bookmark the permalink.