NEWS

Greek euro exit would see 70% drop in living standard Samaras tells IHT conference

A Greek exit from the euro would cut Greek living standards by between 60 and 70 percent, and would be ?disastrous? for the rest of the single currency area because ?no one knows where it would end,? Greek Prime Minister Antonis Samaras said.

Speaking at an International Herald Tribune conference in Paris, Samaras said the ?European debt crisis is a competitiveness crisis? and that his government is ?changing Greece at home and rebranding it abroad.? He said his government is cutting red tape, reducing government spending, eliminating barriers to entry, and showing zero tolerance for tax evasion.

[Bloomberg]