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Greece may need to `return to drachma` says Commissioner Damanaki
Date 26/05/2011 22:21  Author webmaster  Hits 2185  Language Global
26 MAY 2011

Greece will have to ditch the euro unless it agrees tougher austerity measures, said a senior Greek official, delivering the strongest warning yet from a European insider as to what is at stake.

By Emma Rowley | The Telegraph (Greece risks 'return to drachma')

Maria Damanaki, the European Commissioner for fisheries, and who was appointed by Greece's ruling socialists, said her country faces having to exit the currency unless warring parties can agree to make the sacrifices needed to resolve its debt crisis.

The Greek government strongly denied previous rumours that Athens was considering leaving the eurozone, but Ms Damanaki said the situation's gravity had forced her to "speak openly" about the dilemma facing her country.

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See also:
Commissioner warns Greece may exit euro (Irish Times)
It's ever more obvious, Greece must leave the euro (Telegraph)