We must make plans for Greek ‘state of emergency’, EU chief warns

The EU needs to start making plans for a “state of emergency” in Greece from the start of next month if Athens fails to reach an agreement with its creditors, Germany’s EU Commissioner Guenther Oettinger said yesterday.

Oettinger said it was time to make concrete preparations for a crisis in Greece if no deal is reached, Greece defaults and exits the eurozone.

Greece and its creditors hardened their stances, yesterday, after the collapse of talks aimed at preventing a default and possible euro exit, prompting Germany’s EU commissioner to say the time had come to prepare for a “state of emergency”.