13 Jan '12, 2pm

Greece could still leave eurozone: experts

SINGAPORE: Economic figures are showing that the German economy shrank last quarter, a prelude to an expected region-wide recession. If the eurozone's main engine of growth stalls, what hope is there for countries that are nearing default? Dr Gerard Lyons, Chief Economist and Group Head of Global Research at Standard Chartered Bank, said: "They can't become like the German economy because the German economy is so competitive and that means other economies are not competitive enough." Dr Lyons expects Greece to leave the eurozone in about five years, after attaining primary budget surplus this year, as politicians there will have little stomach for more austerity. He said: "As we move through towards the end into this year when Greece is then in the primary surplus - that it is able to pay its own bills - Greece will then, in my view, face more future austerity. The real ch...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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