Today's Coming Crisis Movie

Thursday, May 31, 2012

Greek conservatives warn of euro exit nightmare

(Reuters) - If Greece rejects the 130-billion-euro rescue package meant to dig it out of a debt crisis the country will be plunged into a nightmare that it cannot control, Greece's conservative leader Antonis Samaras said on Thursday.

Samaras, whose New Democracy party has regained a tentative lead in polls ahead of a June 17 parliamentary election that may determine the country's future in the single currency, has often criticized the terms of the international bailout that saved Greece from bankruptcy.

Promising to jump-start growth in the country's recession-mired economy and to not impose new taxes, he said his proposals would keep Greece in the euro while allowing it to have a more palatable austerity programme.

"Denouncing the bailout will lead to an exit from the euro and Greek living standards will drop by a third in very little time. It will be a real nightmare," Samaras told supporters, outlining his 18-point economic policy platform.

"Those who talk of denouncing the bailout are like little children playing with matches in a gunpowder warehouse and they are driving us towards an isolated Greece." Read More