Alexis Tsipras has warned that a Greek failure would be the beginning of the end of the eurozone. 7.49am BST If Greece fails, it will be the beginning of the end of the eurozone. It would be the beginning of the end of the eurozone. If the European political leadership cannot handle a problem like that of Greece, which accounts for 2% of its economy, what would the reaction of the markets be to countries facing much larger problems, such as Spain or Italy which has two trillion of public debt?Tsipras writing in Corriere says #Grexit would be beginning of the end for Euro ZoneIf Greece fails markets will go now to look for the next. If the negotiation fails, the cost to European taxpayers will be huge.After five years of austerity it is inconceivable that we are required to abolish the lowest pensions and subsidies that affect the poorest citizens. #Grexit e crollo #Europa sono interconnesse. #Tsipras al @Corriereit minaccia i creditori. @andrea_nicastro pic.twitter.com/nrAjNb39qw 7.47am BST Good morning, and welcome to our rolling coverage of the Greek bailout, and other events across the world economy, the financial markets, the eurozone and business.It will be another day of negotiations and speculation, as Greece now has just 22 days before its bailout extension expires. The proposal, first presented last week, is part of European officials’ efforts to prod the government in Athens to agree to painful concessions in exchange for rescue funds.But continued disagreements over the economic overhauls and austerity measures demanded by Greece’s lenders risk undermining the plan, people familiar with the plans say.Extension by Feb, by Jun - then rumored by Sep, now by Mar. A bumpy & lengthy road ahead with drops of hope. #Greece #economy #ec #ecb #imf“What we offered would mean that Greece is fully financed until March 2016,” one of the people said.Latest source comments suggest the latest proposal on the table for Greece involves a bailout programme extension until Mar'16 Related: HSBC moves to cut 25,000 jobs globally Continue reading...
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