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British finance minister: Greece may have to leave Euro

British finance minister: Greece may have to leave Euro

The party line of EU governments may be that they are still not considering the possibility of a Greek exit from the eurozone, but apparently George Osborne has not gotten the memo:

“I ultimately don’t know whether Greece needs to leave the euro in order for the eurozone to do the things necessary to make their currency survive,” Mr Osborne said at a business event organised by The Times newspaper.

“I just don’t know whether the German government requires Greek exit to explain to their public why they need to do certain things like a banking union, eurobonds and things in common with that.”

Douglas Rediker and David Gordon warned yesterday in a new piece for FP that "with Britain unwilling to subject its banks to European regulatory oversight, transaction taxes, and other similar schemes, the Brits (and other non-eurozone states) will find themselves further on the outside, and the divisions between the European Union and the eurozone will become increasingly apparent."