Greek debt crisis: French central bank governor warns of 'riots and chaos' if no deal is found

[Surya Gayatri]

Greece could descend into "riots and chaos" if it cannot strike a deal to secure its future in the euro, the governor of France's central bank has said.


'The Greek economy is on the verge of catastrophe'

Christian Noyer, who also sits on the board of the European Central Bank (ECB), one of Greece's 'troika' of creditors, made his comments to Europe 1 radio.

"The Greek economy is on the verge of catastrophe," he said.

Mr Noyer said the eurozone creditors had maintained a "lifeline" for Greek banks but that "our rules oblige us to stop immediately at the point when there is no prospect of a political accord on a programme, or at the point when the Greek banking system crumbles".

On Wednesday, Greek Prime Minister Alexis Tsipras made an impassioned plea for a "sustainable" solution to the crisis in a speech to the European Parliament, but Greece has still yet to provide a comprehensive plan.

http://www.independent.co.uk/news/world/europe/greek-debt-crisis-french-central-bank-governor-warns-of-riots-and-chaos-if-no-deal-is-found-10374612.html

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Tsipras ain't got nothin'. He's still stalling for time to do God knows what. He hasn't got a clue how to proceed, now that he's alienated friend and foe alike with his "pop" referendum stunt.

The clock runs out on Sunday. Greece is beginning to rue the day they put this grinning-ninny incompetent in power.

[PoliticAverse]

1. It looks like they may be agreeing to demands to get a bailout...

but we'll see. See: http://www.democraticunderground.com/10141139678

[Surya Gayatri]

2. I'll believe it when the ink's dry. How many times has he pledged, promised and begged,

and then shown himself and his government to be in bad faith?

Ideological wanker...

[Nuclear Unicorn]

3. A lot of bold, stick-it-to-the-man rhetoric is being cavalierly tossed about but in mere hours

Greece is going to run out of money to pay government employees, pensioners and those on government assistance.

If they seize bank deposits (I'm hearing people with as little as €8,000 could take a 30% hit) they economy will implode.

If they print money there will be hype-inflation.

If they try to whore themselves to Russia -- well, that would end in catastrophe.

Instead of bailing out Greece, the rest of Europe should be focusing on minimizing the effects of the inevitable.

[Surya Gayatri]

4. I understand that, behind the scenes, all steps are being taken

to insulate the rest of the EZ from this doomsday scenario.

Much as I love Greece and her people, they've mismanaged themselves into a bottomless pit.

Whatever the outcome, there's a passle of pain on Greece's horizon. Austerity? Watch what's comin' down the track when the EU turns off the tap.