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Grexit to Cause ‘Domino Effect’ Among Weaker Economies – Italian Lawmaker

© REUTERS / Dado RuvicEuro coins are seen in front of a displayed Greece flag
Euro coins are seen in front of a displayed Greece flag - Sputnik International
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The leader of Italy's eurosceptic party said he would in fact welcome Grexit as Europe should be reformatted from scratch.

Exit sign - Sputnik International
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MOSCOW (Sputnik) — If Greece leaves the eurozone, many EU countries with weaker economies are likely to be negatively affected, leader of Italy's right-wing Lega Nord political party Matteo Salvini told Sputnik Italy on Thursday.

On Tuesday, Greece’s latest bailout program expired as the country failed to agree to its lenders' demands for harsh austerity and economic reforms. Athens has been trying to unlock financial aid in order to avoid defaulting on its immense debt.

"If Greece leaves the euro [area], the Brussels’ house of cards will face serious repercussions. I do not say that everything is due to automatically collapse the following day, but for sure, that would exactly cause a domino effect in the economically disadvantaged countries," Salvini said.

He added that the prospect of a so-called Grexit was not that terrible, as "those who walk away from the euro, are to return to the big world."

The leader of the Eurosceptic party said he would in fact welcome a Grexit as Europe should be reformatted from scratch.

The Greek government announced a national referendum to be held on July 5 to decide whether to accept the terms of a new bailout deal.

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