Bank of Greece foresees ‘uncontrollable crisis’ if talks fail

Greece: fears of default and a euro and EU exit

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 gre

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