Thursday, August 16, 2012

More than £100bn could be wiped off the UK economy if crisis in Greece shatters eurozone...Oh the Joy of being in Europe!

More than £100billion would be wiped off the value of the British economy if the crisis in Greece led to the breakup of the eurozone.

Senior government sources say secret Treasury estimates have calculated that the UK’s output would drop by 7 per cent if the single currency plunged into fresh chaos as a result of a Greek exit from the euro.

That would see £105billion slashed from the British GDP, which came in at £1.5trillion last year.

A Whitehall source revealed the potential cost to Britain amid fears that Greece is due to run out of money next week. Read More