ECONOMY

Schelling: No increased risk of unplanned Greek euro exit

Austria’s finance minister does not believe an unplanned Greek exit from the eurozone has become more likely in the past month, adding one could discuss a planned withdrawal.

“All have realized, also Greece, that an accident represents the biggest possible problem. If there was a kind of orderly withdrawal, then one could discuss how to do that,” Hans Joerg Schelling said on ORF radio on Wednesday.

“Of course I see the problem that time is running out, that the amount of money needed is really very considerable.”

He said he saw the implementation of privatizations as a likely reform path forward for Greece, adding he did not expect “dramatic cuts.”

[Reuters]