Lauri: Eurozone will survive Greece's exit ({{commentsTotal}})

The finance minister, Maris Lauri, said an end to the bailout money would not automatically lead to Greece leaving the currency area, but if it did happen, the Eurozone would survive without Greece.

After intense talks, Greece is set to decide if it wants to carry on with the bailout program, including similar conditions as previously agreed by the last government, or not.

Lauri said an end to the program would not mean Greece would go bankrupt immediately as its budget has been in surplus. She said it does mean Greece will have to survive on its own.

“The Eurozone is certainly more stable and stronger than five years ago, and a hypothetical chance of a member leaving should have little effect,” Lauri said, adding that some short-term market turmoil may occur.

Banks' take is also that a Grexit would not produce chaos.

SEB's Peeter Koppel said a stronger European Central Bank and the quantitative easing program mean that Greece leaving will not cause a chain reaction.

“The mechanism is currently far more transparent – financial markets know who and to what extent Greece is tied to. In that sense it [Greece leavening] would not be so chaotic, but more symbolic,” Mikk Taras, of LHV, a private lender, said.

Editor: J.M. Laats



Siim Kallas.

Interview: Siim Kallas on ambitions, Estonian politics, and EU presidency

Following the local elections in October this year, Reform Party founder, former prime minister, EU commissioner, and presidential candidate Siim Kallas took on the job of municipal mayor of Viimsi, a community on the outskirts of Tallinn. In his interview with ERR's Toomas Sildam, Kallas talks about local government, his party, the EU presidency, and perspectives in Estonian politics.

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