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HRH Prince Pavlos' interview to Bloomberg
25 May 2012

bloomberg1'Greece should remain in the Euro because the cost of an exit would surpass the pain of austerity measures...'.

HRH Prince Pavlos was interviewed by Francine Lacqua, for Bloomberg Television's "City Central", earlier today.

Click here for the full interview.

Please find below the transcript of an extract from the interview :

Absolutely, 85% wants to stay in the Euro: The question is how they want to do it. Some of the ideas are stronger than others. I think we can use something that is stable, that will work with Europe, because that will inherently help us back in Greece.

Q: So, what will be the best outcome of the elections if the anti-bailout party win? Would they still be able to stay in the Euro?

What I would like to see, is the parties figuring out a way to work on something that is going to help us negotiate with Europe. If we come in attacking, it will make it, I think, much harder. We need to look into the future. Short term, you can say, I can come out there and play tough. Unfortunately, we are in a long term game and whether we are in the Euro or out of the Euro, it is a lot of pain to be had. But there is a lot more pain to be had outside the Euro. So I think we have to work in such a way that we can stay within the Eurozone. A government that is strong will be able to negotiate with Europe, but a government that comes in attacking, I think, will put us in a tough position.

Q: Do you think that the EU can live without Greece in the Euro? The Bundesbank seems to say that Germany will be fine.

The Eurozone was created in such a way, it is a structure that if you take one country out of it, -it doesn't matter if it is Greece or another country-, it is no longer the Euro. We have to figure out what else we call it, Euro No2... or whatever you want to call it, but it is no longer the Euro.
So nobody wants that. Can you go without one country? You can, but the shockwaves are big and the issues are strong.
Greece can restructure itself and be a good member of the Euro but we need to actually do that: Restructure ourselves.