‘Insane’ not to reach deal, says National Bank of Greece chief

The head of Greece’s biggest bank has said it would be “insane” not to reach an agreement at emergency talks on Monday on the country’s debt crisis.

Louka Katseli, chair of the National Bank of Greece, told the BBC that banks were not under immediate threat of running out of money.

But she said the situation was serious, and without a deal would become severe.

Katseli told BBC Radio 4’s World At One programme that negotiations had been badly handled with “a lack of leadership” from the European Union side.

She also said that there could not be an agreement that deepened inequality and poverty in Greece.

n addition she predicted that Greece would not be forced to leave the euro because “the cost for the eurozone, which they are down-playing, is really serious.”

She added: “If the markets decided the eurozone is not an irrevocable decision and a government can be declared insolvent, then the first thing that would happen is that there will be a speculative attack by the markets on the next weakest participant in the eurozone or the euro.”

BBC

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