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Greece can still slide to a Grexit, says Austrian chancellor

Austrian Chancellor Faymann arrives to attend a Eurozone emergency summit on Greece in Brussels

Austrian Chancellor Werner Faymann said on Tuesday that a deal with international creditors to stave off bankruptcy agreed on Monday gave Athens a chance but that a Greek exit from the euro zone was still possible.

“A Grexit would happen if banks’ doors can’t open… In this way … a country can have to create its own currency – that would then be described as a Grexit. Once can slide towards that point,” he told a weekly government news conference.

“No one can say that some kind of a catastrophe is ruled out,” he added.

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