Greece Will Leave Euro If Second Bailout Fails

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Greece will leave euro if second bailout fails, says Kapsis (Telegraph, Jan. 3, 2012):

Greece will have to leave the eurozone if it fails to clinch a deal on a second, 130 billion euro bailout with its international lenders, a government spokesman said on Tuesday.

It was an unusually public stark warning from the embattled country, aimed at shoring up domestic support for tough measures and possibly also at the lenders themselves.

“The bailout agreement needs to be signed otherwise we will be out of the markets, out of the euro,” spokesman Pantelis Kapsis told Skai TV. “The situation will be much worse.”

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