Angela Merkel, the
German chancellor, reportedly believes that the eurozone is now robust enough
to cope with a potential exit of Greece.
Investors have become increasingly concerned
that the looming general election in Greece will reignite the eurozone crisis. A
snap vote will be held on January 25, after politicians failed to back Prime
Minister Antonis Samaras's candidate for the Greek presidency.
Investors fear that the left-wing,
anti-austerity Syriza party, which is ahead in the polls, will take power in a
victory that could result in a Greek exit from the currency bloc. No country
has ever left the euro zone and there is currently no mechanism in place allowing
for such a departure.
However, Der Spiegel reported that the
Germany government believes that Greece would almost certainly have to leave
the eurozone in the event of a Syriza victory later this month. Furthermore, an
exit would not cause a crisis among Europe’s other peripheral nations. "The
danger of contagion is limited because Portugal and Ireland are considered
rehabilitated,” the magazine quoted one anonymous government source as saying.
(Πηγή: telegraph.co.uk)
