Greeks are being urged to vote for mainstream party to avoid EU exit, but if it becomes reality markets won’t be relaxedThe attempts by the eurozone’s big beasts to bully Greeks into voting the “right” way in their general election have begun. Der Spiegel magazine reported at the weekend that the German government believes the eurozone could cope with a Greek exit from the single currency and that such an outcome would be almost inevitable if the “anti-austerity” Syriza party wins on 25 January.Inevitably, this was followed on Monday by a soft statement from the German government that nothing much has changed. But this was not quite a denial of the Spiegel story. The threat from Berlin seems reasonably clear: German chancellor Angela Merkel will not tolerate Syriza’s demand to write off a chunk of debt and Greeks who want to stay in the euro (which is said to be the majority) should vote for a mainstream party. Continue reading...
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