Grexit Could Still Be Avoided As Deadline Looms

GREXIT COULD STILL BE AVOIDED AS DEADLINE LOOMS

European leaders are expected to begin efforts to convince Greece to vote yes in Sunday’s referendum on bailout proposals.

A decision by Prime Minister Alexis Tsipras to go to the polls was followed by Europe’s announcement that their existing aid package would not be extended past tomorrow.

Greek banks and stock market are shut for the week as the crisis continues, while the public is facing 60 euro limits on daily ATM withdrawals.

Financial Times bureau chief in Brussels, Peter Spiegel, says ‘Grexit’ could still be avoided.

“if they say yes, I think particularly here at the European Commission, there’s belief that Grexit is still avoidable” he said.

“Perhaps the government has a u-turn, change of mind, comes back to the table, agrees to the programme; Greece is damaged very badly, it’s economy is hot very hard – but at least they don’t leave the Euro” he added.

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