Greece: We will exit euro without new bailout deal

A Greek government spokesman has said the country will leave the single currency if it fails to secure a second, €130bn bailout deal by March.

Officials from the EU, IMF and European Central Bank will return to Greece later this month to finalise a deal which was agreed in principle last October and called for a 50% ‘voluntary' haircut on privately-owned Greek debt. Reports citing unnamed IMF officials have since suggested a 50% write down may no longer be enough in view of Greece's worsening economic situation. Greek government spokesman Pantelis Kapsis told domestic television today the bailout agreement needed to be signed as a matter of urgency. "The bailout agreement needs to be signed otherwise we will be out of the...