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 ...

By , a former associate editor at Foreign Policy.

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:

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."

 

Joshua Keating was an associate editor at Foreign Policy. Twitter: @joshuakeating

Tags: EU, Greece

More from Foreign Policy

Russian President Vladimir Putin and Chinese President Xi Jinping give a toast during a reception following their talks at the Kremlin in Moscow on March 21.
Russian President Vladimir Putin and Chinese President Xi Jinping give a toast during a reception following their talks at the Kremlin in Moscow on March 21.

Can Russia Get Used to Being China’s Little Brother?

The power dynamic between Beijing and Moscow has switched dramatically.

Xi and Putin shake hands while carrying red folders.
Xi and Putin shake hands while carrying red folders.

Xi and Putin Have the Most Consequential Undeclared Alliance in the World

It’s become more important than Washington’s official alliances today.

Russian President Vladimir Putin greets Kazakh President Kassym-Jomart Tokayev.
Russian President Vladimir Putin greets Kazakh President Kassym-Jomart Tokayev.

It’s a New Great Game. Again.

Across Central Asia, Russia’s brand is tainted by Ukraine, China’s got challenges, and Washington senses another opening.

Kurdish military officers take part in a graduation ceremony in Erbil, the capital of Iraq’s Kurdistan Region, on Jan. 15.
Kurdish military officers take part in a graduation ceremony in Erbil, the capital of Iraq’s Kurdistan Region, on Jan. 15.

Iraqi Kurdistan’s House of Cards Is Collapsing

The region once seemed a bright spot in the disorder unleashed by U.S. regime change. Today, things look bleak.