France`s Central Bank Chief Warns Of Chaos And Riots In Greece If No Debt Deal Is Reached

Daily Mail: 'Greece is on the edge of catastrophe. There will be riots and chaos': French central bank boss warns of dire consequences if the country does not make a deal this week

* Christian Noyer said he was concerned that major civil unrest could break out if a deal isn't struck by the weekend
* He said he fears that Greece descend into 'riots and chaos' if a bailout compromise is not found this week
* Alexis Tsipras told the European Parliament today that he is confident the end-of-the-week deadline will be met
* But he claimed that Greece had been used as an 'austerity laboratory' by the rest of Europe over the past five years

The head of France's central bank has warned of the dire consequences facing Greece if it fails to strike a bailout deal this week, adding that he fears the country will descend into 'riots and chaos'.

Warning that the Greek economy 'is on the edge of catastrophe', Christian Noyer said he was concerned that major civil unrest could break out if a deal isn't struck by the weekend.

Speaking at the European Parliament today Greek Prime Minister Alexis Tsipras said he was confident of meeting an end-of-the-week deadline set by eurozone leaders to reach a bailout deal or risk leaving the euro.

WNU Editor: I do not think playing the fear card is going to work on the Greek population anymore .... the same warnings were said before the referendum, but the Greeks voted against austerity. What`s my take .... the Greeks should be afraid. I experienced in Russia on what can happen when one`s banking and financial system collapses .... I cannot describe in words how horrible and depressing of an experience it is. But the alternative is also not palatable .... current EU conditions for a deal will guarantee austerity and poverty for the Greek population for the next few generations .... and even then there is no guarantee that Greeks will be able to see the light at the end of the tunnel. In the meantime .... the dog and pony show between Greece and its lenders continues .... Greek leader seeks new bailout aid amid scramble to avert bankruptcy (Washington post).