European Union and Bank Greece

Alexis Tsipras: Failure to reach an agreement would …mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country exit from the euro area and, most likely, from the European Union, the Bank of Greece said in a statement, according to The Independent. Striking an agreement with our partners is a historical imperative that we cannot afford to ignore, it added. Talks between Greece and its eurozone and IMF creditors over a cash-for-reforms deal have stalled, with the country Prime Minister, Alexis Tsipras, accusing the creditors of pillaging the country over the past five years. The central bank said some €30bn in deposits have fled the Greek financial system since last October as Greek savers shift their money ahead of a possible exit from the euro. We are prepared for all eventualities said the Dutch Finance Minister, Jeroen Dijsselbloem, in the Hague. The German Finance Minister, Wolfgang Schäuble, told a parliamentary hearing in Berlin that his government is making contingency plans in the event of Grexit. (news.financializer.com). As reported in the news.