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Euro Crisis: Greek Exit Necessary To Save The Euro?

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UK Chancellor George Osborne has argued that Greece may have to leave the euro to save the troubled currency.

In comments that may cause problems for the German Chancellor Angela Merkel, the UK’s top finance minister raised doubts about “whether the German government requires a 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”.

The German Government has at present not supported calls for the issuing of eurobonds.

Speaking to business leaders in London Mr Obsorne stated that “I ultimately don’t know whether the Greece needs to leave the euro in order for the Eurozone to do the things necessary to make their currency survive”.

Mr Osborne’s comments come after Spanish 10 year government bond yields hit 6.8%, the highest since joining the euro.

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