Eurozone leaders hold emergency meeting on debt crisis in Greece

Story from The Takeaway. Listen to audio above for full report.

Eurozone leaders are meeting in Brussels today for an emergency summit on the looming debt crisis in Greece. Greek Prime Minister George Papandreou called this summit a “make-or-break” moment. Meanwhile, the International Monetary Fund warned that this crisis could spread to the rest of Europe, even if Eurozone leaders prevent a default in Greece.

Pippa Malmgren — president and founder of Principalis Asset Management and former special assistant to President George W. Bush for economic policy — thinks Greece might temporarily have to exit the Eurozone.

“The debt burden that Greece faces is too great to pay, and the nation will not be able to make these payments,” she told The Takeaway. “If they don’t make these payments then the whole banking system of Western Europe is potentially jeopardized.

> Read more about Greece’s debt crisis.

> Read more about the summit.

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