Austrian chancellor says Grexit still possible


Austrian Chancellor Werner Faymann said on Tuesday that a deal with international creditors to stave off bankruptcy agreed on Monday gave Athens a chance but that a Greek exit from the eurozone was still possible.

“A Grexit would happen if banks’ doors can’t open… In this way… a country can have to create its own currency – that would then be described as a Grexit. One can slide towards that point,” he told a weekly government news conference.

“No one can say that some kind of a catastrophe is ruled out,” he added.