Greece Needs To Leave The Euro Before It Gets An Exit Order - Think Tank

Πηγή: eFXnews
August 13 2012

It would be more effective for Greece if it makes its euro exit in its own hands instead of waiting to be politically kicked out, said Douglas McWilliams, chief executive officer of the Centre for Economics and Business Research.

In an interview with Bloomberg TV, Mr. McWilliams argued that Europe is only playing a blame game with Greece, while it is actually looking for its exit from the monetary union.

"With Greece, we are actually nearing the end of the process; it is only a matter of who takes the blame of what happens," he added.

Mr. McWilliams believes that the major European institutions such the European Central Bank and the European Commission have already prepared for such an exit as they get more convinced that the Greek situation is completely unsustainable.

Editor's note: According to the CEBR's last report euro is to break up by 2013 as the severe adjustment measures will be unacceptable to electorates in Southern Europe as growth in Southern Europe will be below 1.5% in every year to 2015.