Greece set to stay in euro zone, say finance chiefs – CNBC

None of the CFOs surveyed believed that Greece would stay in the bloc under the terms of its 240 billion euro ($270 billion) bailout, while 17 percent believed that it was still too soon to say either way. Additionally, one respondent predicted that Greece would be existing outside the euro zone, “on its own,” by this time next year.


Mohamed El-Erian, the chief economic adviser at German-based Allianz, told CNBC on Tuesday last week that a Greek exit from the euro would cause “short-term chaos,” but stated that it would not bring the global economy to its knees. On Thursday last week, Hans-Werner Sinn, president of the Munich-based Ifo Institute for Economic Research, told CNBC that Greece’s creditors needed to “face the truth” and realize the country is bankrupt and advocated a return to the drachma for the struggling euro zone nation.


Fifty-one CFOs from Europe and also Asia make up the CNBC CFO Global Council survey. Both groups were asked about government involvement in business operations and how big a say regulators had in their individual industries. 61 percent of respondents said that government involvement was too large, 22 percent even said that they “strongly agreed” that policymakers were too involved with the way they do business. Just 11 percent disagreed with the statement.


Greece set to stay in euro zone, say finance chiefs – CNBC}

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