Monday, May 21, 2012

Greek Politician Warns: European Union Would Be "Destroyed" If Greece Left

Pimco begs to differ.
From the Telegraph's Debt Crisis Live blog
15.38 Mohamed El-Erian, chief of the world's largest bond fund manager Pimco, has told Bloomberg that Europe should begin fearing the worst over Greece:
Quote A Greek exit will be expensive and messy, but it’s probably inevitable and therefore we should plan for it.

14.38 Greek Syriza leader Alexis Tsipras, who has threatened to tear up the bailout agreement if his party wins elections next month: 
Greek experiment may be exported to other nations.

Tsipras has added that a Greek exit would destroy the euro area. However, Greece is a "sovereign state and makes its own decisions".