Tsipras tells Germany to stop demanding austerity
(NEWSER) - Europe has hundreds of billions of reasons to try to keep Greece from unceremoniously ditching the eurozone. If Greece leaves, the rest of Europe would face catastrophic losses, Reuters reports. Greece would default on the roughly $250 billion in debt held by the ECB, IMF, and other eurozone nations, and that loss will likely be "high enough to eliminate the ECB's capital," one investor said. And the losses wouldn't end there because Europe would still probably have to prevent a total collapse or risk economic contagion. More»
