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GreekReporter.comGreek NewsEconomyIMF Chief: Exit from the Euro 'Devastating' for Greece

IMF Chief: Exit from the Euro 'Devastating' for Greece

Lagarde1An exit by Greece from the euro zone would be “devastating,” the head of the International Monetary Fund Christine Lagarde said on Tuesday.
Speaking to Irish state broadcaster RTE, the IMF chief discussed the political situation in Greece ahead of the January 25th elections. Leftist opposition party SYRIZA leads steadily in opinion polls over the ruling New Democracy party.
The expressed opinions of SYRIZA members and the campaign promises of party leader Alexis Tsipras have financial markets worried that a SYRIZA win will bring Greece to a direct confrontation with EU/IMF creditors that may result in a Grexit.
“First of all it is not allowed under the rules of the euro area, and secondly I think it would be devastating for Greece,” Lagarde said when asked if an exit by Greece would be devastating for the euro zone.

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