27 Dec '11, 3am

Despite crisis Greece doesn't want to give up euro

Despite crisis Greece doesn't want to give up euro

ATHENS: Ten years of the euro have left Greece's economy in tatters, but the single currency remains highly popular among Greeks who fear a return to the drachma would be catastrophic. Politicians never fail to hammer it home, but the polls also confirm it: Greeks want to stay in the eurozone. "Our position in Europe is non-negotiable," Prime Minister Lucas Papademos said recently. "Greece is and will remain part of a united Europe and the euro," added Papademos who was governor of the country's central bank when the currency went into circulation a decade ago and went on to become a vice president of the European Central Bank. Strong support for the euro -- up to 80 percent according to polls -- has held up despite the deep recession and the bitter austerity measures Greece must impose to get its bailout funds. Unemployment has rocketed, with nearly half of young people n...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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