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| George Osborne warns of shortages in Greece as crisis worsens | George Osborne warns of shortages in Greece as crisis worsens |
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| British holidaymakers with a medical condition should take sufficient supplies of prescription drugs to Greece, George Osborne has said, as he warned of a complete collapse in the Greek economy. | British holidaymakers with a medical condition should take sufficient supplies of prescription drugs to Greece, George Osborne has said, as he warned of a complete collapse in the Greek economy. |
| Amid growing fears in Whitehall that Greece could tumble out of the euro within days, the chancellor spoke of growing risks as he called on Athens and the eurozone to have a “final go” at reaching a lasting solution. | Amid growing fears in Whitehall that Greece could tumble out of the euro within days, the chancellor spoke of growing risks as he called on Athens and the eurozone to have a “final go” at reaching a lasting solution. |
| Treasury officials are so concerned that the Greek economy could freeze up – if the European Central Bank cuts off emergency liquidity assistance to Greek banks – that holidaymakers are being advised to take full supplies of prescription medicines. The Foreign Office travel advice was updated amid fears that the Greek authorities may be unable to purchase medical supplies from abroad. | Treasury officials are so concerned that the Greek economy could freeze up – if the European Central Bank cuts off emergency liquidity assistance to Greek banks – that holidaymakers are being advised to take full supplies of prescription medicines. The Foreign Office travel advice was updated amid fears that the Greek authorities may be unable to purchase medical supplies from abroad. |
| Osborne said the Greek crisis risked “going from bad to worse”. He told MPs: “As the economic crisis in Greece persists, there are greater risks of shortages. In recent days, the media have reported a shortage of medical supplies in Greece. Therefore, I want to reiterate the Foreign Office’s advice that UK travellers take sufficient supplies, including prescription medicines, for the duration of their trip.” | |
| There are signs that eurozone leaders are growing increasingly pessimistic about the chances of reaching a fresh deal to maintain Greek membership of the euro. Whitehall officials believe that divisions within the eurozone and a reluctance among some leaders to take responsibility for the giant step of agreeing to a fresh bailout could lead to an inertia which prompts a Greek exit. | There are signs that eurozone leaders are growing increasingly pessimistic about the chances of reaching a fresh deal to maintain Greek membership of the euro. Whitehall officials believe that divisions within the eurozone and a reluctance among some leaders to take responsibility for the giant step of agreeing to a fresh bailout could lead to an inertia which prompts a Greek exit. |
| David Cameron, who chaired a special contingency meeting, has instructed British officials to make active preparations for such an outcome. It is widely assumed in Whitehall that Greece will be in need of urgent humanitarian assistance if it falls out of the euro. | David Cameron, who chaired a special contingency meeting, has instructed British officials to make active preparations for such an outcome. It is widely assumed in Whitehall that Greece will be in need of urgent humanitarian assistance if it falls out of the euro. |
| Osborne said: “There is considerable uncertainty about what happens next. We need to be realistic: the prospects of a happy resolution of this crisis are rapidly diminishing. We are urging all sides to have a final go at trying to reach an agreement that defuses the crisis.” | Osborne said: “There is considerable uncertainty about what happens next. We need to be realistic: the prospects of a happy resolution of this crisis are rapidly diminishing. We are urging all sides to have a final go at trying to reach an agreement that defuses the crisis.” |
| The chancellor raised the prospect of a deadlock between Greece and its creditors at a meeting of eurozone leaders in Brussels on Tuesday night. He said: “If there is no signal from these meetings that Greece and the eurozone are ready to get around the table again, we can expect the financial situation in Greece to deteriorate rapidly. | The chancellor raised the prospect of a deadlock between Greece and its creditors at a meeting of eurozone leaders in Brussels on Tuesday night. He said: “If there is no signal from these meetings that Greece and the eurozone are ready to get around the table again, we can expect the financial situation in Greece to deteriorate rapidly. |
| “This is a critical moment in the economic crisis in Greece. No one should be under any illusions. The situation risks going from bad to worse.” | “This is a critical moment in the economic crisis in Greece. No one should be under any illusions. The situation risks going from bad to worse.” |
| Eurosceptics said the no vote in Greece would strengthen their hand in the referendum on Britain’s EU membership that is to be held by the end of 2017. Douglas Carswell, the Ukip MP for Clacton, wrote in the Daily Telegraph that the no vote marked the end of the EU’s founding fathers’ belief that “by doing things together, Europe can do things better”. | Eurosceptics said the no vote in Greece would strengthen their hand in the referendum on Britain’s EU membership that is to be held by the end of 2017. Douglas Carswell, the Ukip MP for Clacton, wrote in the Daily Telegraph that the no vote marked the end of the EU’s founding fathers’ belief that “by doing things together, Europe can do things better”. |
| Carswell wrote: “The Greek referendum result is crushing defeat for the European elite. Having used every sort of scare tactic imaginable to frighten the people into voting for the troika deal, the people overwhelmingly rejected it.” | Carswell wrote: “The Greek referendum result is crushing defeat for the European elite. Having used every sort of scare tactic imaginable to frighten the people into voting for the troika deal, the people overwhelmingly rejected it.” |
| Pro-Europeans fear that the Greek crisis could complicate Cameron’s plans to negotiate the terms of Britain’s EU membership. Some Whitehall sources have voiced fears that a Greek exit from the euro might prompt some eurozone leaders to tell the prime minister they have more pressing issues to deal with than reopening the Lisbon treaty to help him win an EU referendum. | Pro-Europeans fear that the Greek crisis could complicate Cameron’s plans to negotiate the terms of Britain’s EU membership. Some Whitehall sources have voiced fears that a Greek exit from the euro might prompt some eurozone leaders to tell the prime minister they have more pressing issues to deal with than reopening the Lisbon treaty to help him win an EU referendum. |
| There are also fears that the victory for the no side in Greece will strengthen the hand of hardline eurosceptics who are suggesting that the prime minister should table more ambitious plans. | There are also fears that the victory for the no side in Greece will strengthen the hand of hardline eurosceptics who are suggesting that the prime minister should table more ambitious plans. |