Tags: Germany | Greece | euro | threat

Greek Party Leader Warns Austerity Threatens Euro

Tuesday, 22 May 2012 11:13 AM

The leader of Greece's radical left Syriza coalition is warning that austerity measures championed by German Chancellor Angela Merkel could ultimately bring down the eurozone as whole.

Alexis Tsipras told reporters in Berlin Tuesday that Greece's international creditors must acknowledge their "errors" and change course "to avoid a catastrophe."

Syriza finished second in this month's Greek elections and some polls see it as the front-runner in fresh elections due next month.

Tsipras says that, under his leadership, Greece would ditch the terms of the bailout agreements struck with its creditors but it would not actively seek to leave the eurozone.

Still, he warns that insisting on those "wrong solutions" might eventually force Greece out of the 17-nation eurozone — which "would represent a much greater danger for the euro."

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