The Alternate Minister of International Economic Relations Euclid Tsakalotos warned that if an agreement with the country’s creditors ins not possible, then the Greek government would turn to the people, for a possible Grexit.
Mr. Tsakalotos told BBC Radio that the Greek government would either call new general elections or announce a referendum, if it is unable to reach an acceptable agreement with its creditors.
Furthermore, he explained that the SYRIZA-led government was not given a mandate by the Greek people to abandon the euro, which he argued was a very bad prospect, but rather must work towards securing the best possible agreement within Europe.
Additionally, Mr. Tsakalotos commented that a possible Grexit would radically change the single currency. The Alt. Minister stated that his biggest fear would be for the euro to collapse, which in turn would trigger competitive devaluations.
