Portugal “won’t be affected” by a Greek withdrawal from the euro

Portugal “won’t be affected” by a Greek withdrawal from the euro

As Europe waits with baited breath to see whether Greece really does pull out of the euro, Portugal’s foreign minister Rui Machete has said the move would have “no consequences” for Portugal nor for the single currency. It is an opinion not universally shared but nonetheless being increasingly aired. As the UK’s Guardian reported “the eurozone, while still the lumbering giant, has acquired a shrewdness that puts Greece at a distinct disadvantage”.

“The bookies have cut the odds on a Greek exit from the eurozone to evens now that elections look likely to bring a leftist party to power with a mandate to wage war with Brussels” wrote the paper – and now politicians are making the best of it.

Machete told TVI24 this week that while an eventual Greek pull-out is “worrying, it is not a tragic situation for Portugal. We maintain our solidarity with Greece and do not want this to happen,” he added.

Greece’s decisive elections are due on January 25 and though Angela Merkel has also declared herself prepared for a Greek exit from the euro, Brussels has declined to comment, simply alluding to the fact that the signing of the Treaty of the European Union is “irrevocable”.