MEP Murphy suggests Greece may leave euro zone12/06/2012 - 16:29:22
The Socialist Party MEP Paul Murphy says it's unlikely that Greece will remain in the euro zone.
He was speaking in Strasbourg where MEPs have today been discussing more budgetary rules to enable the European Commission to vet Member States' budgets.
Mr Murphy's comments come as reports today say that EU officials are preparing contingency plans for a Greek exit from the euro.
The plans are said to include limiting the size of withdrawals from ATM machines and introducing euro zone capital controls.
The Greeks will hold a new round of elections on Sunday.
Murphy says regardless of who wins the election, it's very unlikely Greece will be able to stay in the euro zone: "It's not possible for any Greek government to implement the level of austerity that is required by the European Commission and to be able to continue in power.
"Simply, the Greek people can't take any more. The line that has been taken by the establishment, led by Angela Merkel is that in that situation effectively, they'll try to force that country out of the euro if they don't implement that level of austerity. That's the most likely scenario."