Greek Euro Crisis: UPDATE

3rd November 2011

On his Channel Four blog, economics editor Faisel Islam suggests that the Greek finance minister Evangelos Venizelos was prompted to move against the PM because of the decision by Germany and France to make sure the referendum was a stark choice – that of remaining in the euro and accepting the plan or exiting the euro.

That exit may have led the European Central Bank to stop supporting Greek banks which have been losing a lot of deposits in the last year and a half anyway, which might then have collapsed.

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