Austrian chancellor categorically rejects possible Greek exit from eurozone

Austrian Socialdemocrat Chancellor Werner Faymann repeatedly expressed opposition to an exit by Greece from the eurozone, during Tuesday night's Austrian Parliamentary plenary session in Vienna since, as he said, such a thing would mean an invitation to speculation.
The Austrian chancellor clarified that a possible exit from the eurozone by Greece would have negative consequences since "the existing debts would have to be paid in euros, the new currency would experience a great devaluation, Greece would not be able to repay its debt, the citizens would rush to withdraw their deposits from banks, something that would cause the collapse of banks, with consequences for the creditors in the European Union."

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