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Eurozone has discussed Greek default scenarios: sources

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Senior eurozone officials have discussed the "worst case scenarios" for Greece including a possible default in case talks between Athens and its creditors fail, three European sources said on Friday.

[BRUSSELS] Senior eurozone officials have discussed the "worst case scenarios" for Greece including a possible default in case talks between Athens and its creditors fail, three European sources said on Friday.

Technocrats from the eurozone's 19 member states are currently in Bratislava, Slovakia, to prepare for a do-or-die meeting of finance ministers set for Thursday in Luxembourg.

"In discussions, a default was mentioned as one of the scenarios that can happen when everything goes wrong," a eurozone official told AFP on condition of anonymity.

Another official source said: "Eurozone members have decided to start considering the consequences of non-payment (by Greece) and beyond."

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A third official added: "It was a preparation for the worst case. Countries wanted to know what was going on," a European source close the matter told AFP.

Next week's Luxembourg meeting is seen as the last chance for leftist-led Greece to agree a reforms-for-cash deal with its creditors after five months of fruitless and ill-tempered talks.

No deal could thrust cash-starved Greece towards default and a catastrophic exit from the euro, rocking the global economy.

AFP

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