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Is Greece on its way out of the EU?

Just days after the European Union (EU) thought an agreement had been reached over another bailout plan for Greece, George Papandreou, the Greek prime minister, has dropped a bombshell.

He has announced a referendum on the issue, saying the Greek people must be given the opportunity to decide whether
or not to accept the measures – effectively allowing the voting public to veto a plan that EU leaders thought had already been agreed to.

Now there is new uncertainty over Greece’s position within the eurozone – and the real possibility, in the case of a public rejection, that Greece could default on its massive debts and, in an unprecedented scenario, drop its membership of the EU, along with its financial obligations.

So, could this be the first step towards Greece defaulting on its debt and abandoning the EU? And what impact will it have on the euro, the EU and the world as a whole?

Source: Al Jazeera
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Category: World News |

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Last updated December 10, 2016 at 11:35 PM
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