The National Bank of Greece estimated the cost of a possible departure from the euro zone

The National Bank of Greece warned that, if the country leave the eurozone, sales by half is reduced and the money would be two-thirds of its value lost.

The Central Bank said a report that quantified the damage by the single currency, inflation would explode up to 30% and remained on the rise.

Unemployment would increase already high and Greece Incumpliría most of its foreign debt obligations, according to the report.

But the Economic Affairs of the BBC correspondent says that many observers believe, that an exit of Greece give the euro by devaluing the country not allowed are profits, by you a common currency.

You agree that a depreciation of the currency would facilitate exports and would make it more attractive for the country Hellene as a tourist destination.

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Greece central bank warns of massive capital outflows

US $1 billion have withdrawn in recent days.

The central bank of Greece launched an alarm message to the President, Karolos Papoulias, before the mass exit of money that is registering in banking institutions of the country in recent days.

According to the Bank since last Monday have been removed some 800 million euros (US$ 1 billion).

Last year Greece capital flight exceeded the 35 billion euros (US $ 44,000 million).

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Falling markets in advance of the meeting of the EU on the future of Greece

Lucas Papademos, former Prime Minister of Greece.

Stock markets fell heavily on Wednesday before the meeting of the leaders of the European Union, where cover subjects such as the future of Greece in the euro area.

Shares plunged after the news agency Dow Jones reports that the former Foreign Minister of Greece of Lucas of Papademos said: "Athens has to continue with the austerity program or face one exit in the euro area".

Italy and Spain markets dropped to 3.3% and 3.7% or fell during the London, Paris and Frankfurt more than 2%.

Euro fell for the minimal to the dollar in the last 22 months.

At the Summit of Brusealas that the new French President, François hollande, supported the approach of abstinence from Germany to resolve the crisis in the eurozone expected, will challenge.

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EU leaders want to Greece in the heterogeneous

The heads of State and Government of the European Union ended a day of informal talks in the early hours of Thursday, with the promise, do our best to keep Greece in the euro area.

However was no concrete plan to prevent the issue and guide assures that it is necessary, that Greece with a series of "important reforms continue to".

The talks focused mostly on how promote.

There was the President of France, François hollande, differences of opinion on an action plan to start in Eurobonds of to cheaper financing for countries that have problems. The German Chancellor, Angela Merkel, is against the idea.

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And what happens when Greece leaves the euro?

Greek debt default

Without the possibility of borrowing for each (not even other European governments), the Greek Government rejects euro. They have to pay social security benefits and wages of civil servants bonds (if not resolved at all to pay), to give a new Drachma into circulation. The Government suspended the payment of all debts, including €240 billion in loans, which it has received from the IMF and the EU. Greek banks

France calls to use European funds to help Greece

The new Prime Minister of France, Jean-Marc Ayrault, pointed out that the European Union should use money saved in their structural funds to help revive the Greek economy.

Ayrault said that the goal of all should be to help Greece keep within the eurozone. However, he added that the Greeks might just disappoint against what he defined as the "brutality of a programme of austerity".

For its part the Germany Finance Minister, Wolfgang Schauble, indicated that Germany wants to keep Greece in the euro, but stressed that the Greeks have to do what the considered necessary to achieve the recovery of its economy.

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