Greece eurozone exit extremely expensive: IMF chief
International Monetary Fund Managing Director Christine Lagarde has warned about Greece’s exit from the eurozone, saying the leaving will led to extremely expensive consequences.
In an interview on Dutch television on Thursday, IMF chief Christine Lagarde said that any Greece departure from the eurozone “would be extremely expensive and hard, and not just for Greece".
"I think what we should look at is the optimal scenario where the country has the political resolve to actually observe the commitment, comply with the undertaking, stay within the zone, which seems to be the desire of the population," Lagarde said.
Lagarde on Wednesday called on Greek leaders to show their resolve to keep the country in the euro by sticking to its bailout deal with the International Monetary Fund and European Union, the terms of which have inflicted great suffering on its people.
Greece is in danger of running out of funds and European leaders, like the IMF, are warning that Greece must decide whether it is willing to accept the bailout terms to stay in the monetary union.
Greece’s political uncertainty has led to market slump across Europe and Asia.
Meanwhile, Greek political parties on Wednesday agreed on forming a caretaker government to hold new parliamentary elections in June after previous polls failed to give any party an absolute majority earlier in May.
The debt-ridden country has plunged into political turmoil since the May inconclusive elections. Voters angry at harsh austerity measures gave no party enough parliamentary seats to form a government.
http://www.presstv.ir/detail/2012/05/17/241611/greece-eurozone-exit-extremely-hard/
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