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Greece will face chaos, riots if deal not struck: France
Greece Will Face Chaos, Riots If Deal Not Struck: France. France\'s Central Bank Chief said on Wednesday that Greece will descend into \"riots and chaos\" if no debt deal is found soon.
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Paris: France's Central Bank Chief said on Wednesday that Greece will descend into "riots and chaos" if no debt deal is found soon. "The Greek economy is on the edge of catastrophe. A deal must be made on Sunday because it will be too late after that and the consequences will be serious," The Local news portal cited French Central Bank Chief, Christian Noyer telling a French radio.
He added that "there could be riots... and chaos in the country". Noyer said that it was "impossible" to reopen Greek banks when times are so bad, saying that there would be an "immediate run" on tellers. The head of the French Central Bank is a member of the European Central Bank (ECB)'s decision-making governing council. "We have rules and we have interpreted the rules to Greek's limit to maintain a lifeline to their banks, but we cannot continue indefinitely to increase the risks we are taking," he said.
After Greece failed to propose a fresh debt deal on Tuesday, the Eurozone gave it until Thursday to present new proposals to secure a deal with creditors. A meeting of all the 28 members of the European Union (EU) will be held On Sunday -- a day after the new Greek proposals are expected to be discussed by the Eurozone finance ministers.
