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Page last updated at 08:39 GMT, Thursday, 24 May 2012 09:39 UK

Greek exit: What is the worst outcome?


European leaders have met in Brussels to discuss the eurozone crisis and the outcome of a possible Greek exit from the euro.

Linda Yueh, Bloomberg's economics editor, told the Today programme that the impact of a Greek exit would be "pretty widespread".

She says there is already some evidence of deposit outflows which are "a sign of a potential bank run" which would in turn lead to a "very severe short term negative shock".

For Britain, the worst possible outcome from a Greek exit would be "another serious banking crisis" she believes, but warns that the knock-on effect is the hardest to predict. "I fear the worst could be worse than that".

Stefanie Bolzen of German paper Die Welt, told John Humphrys that no one is talking about "concrete measures" to put more confidence in the situation with Greece.

There is big uncertainty in Brussels and Berlin as to whether eurozone firewalls "will be really high enough", she explains.

A Greek exit "would be terrible" she warns as it would be followed by a "spread of contagion".

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