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Monday, June 15, 2015

Prepare for Greek 'state of emergency', says German EU commissioner

By Andreas Rinke and Erik Kirschbaum BERLIN (Reuters) - The European Union needs to start making plans for a "state of emergency" in Greece from July 1 if Athens fails to reach an agreement with its creditors, Germany's EU Commissioner Guenther Oettinger said on Monday in Berlin. In remarks to reporters before a meeting of Chancellor Angela Merkel's Christian Democratic party (CDU), Oettinger said it was time to make concrete preparations for a crisis in Greece if no deal is reached, Greece defaults and exits the euro zone. Separately, a close ally of Merkel, CDU parliamentary floor leader Volker Kauder, told German TV that Greece needs to "get back to reality" as signs emerged her conservatives were growing more exasperated after talks broke down on Sunday.


READ THE ORIGINAL POST AT uk.news.yahoo.com