'Grexit' fear shocks stocks

UNCERTAINTY over Greece's future in the eurozone hit financial markets yesterday.

Prime minister Alex Tsipras declared his party would not seek an extension to the current bailoutGETTY

Prime minister Alex Tsipras declared his party would not seek an extension to the current bailout

Leading European stock markets fell by nearly 2 per cent as Greece's finance minister warned the eurozone could collapse "like a house of cards" if Athens is forced out.

The fallout could be substantial

Capital Economics, analysts

Prime minister Alexis Tsipras set his government on a collision course with its creditors after declaring it would not seek an extension to the current bailout.

Germany says it will get no more money without such a programme.

Analysts Capital Economics said: "The risk of a "Grexit" is growing. The fallout could be substantial."

A Grexit is a lose-lose situation

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