hope so because: Lagarde warns just three months left to save the euro; EU braces for the worst (under http://www.fxstreet.com/news/forex-news/article.aspx?storyid=4e58f3e7-22b0-440c-98d8-eb1b8b2d051d): FXstreet.com (Barcelona) - In an interview for the CNN on Tuesday IMF chief Cristine Lagarde said that the Eurozone had three months left to solve its problems, otherwise a breakup would ensue. Last week billionaire investor George Soros indicated a similar deadline.
The IMF head advised a gradual and continuous reduction of the EU countries' fiscal deficits, emphasizing that it does not have to be done through harsh austerity measures. Lagarde refused to predict whether Greece would leave the euro, claiming that “It’s going to be a question of political determination and drive.”
Nevertheless, European governments have already started preparations for the possibility of a Greek exit, as uncertainty is growing before the Greek elections scheduled for June 17. Some of the measures considered by the Eurogroup Working Group include the suspension of the Schengen agreement, imposing limits on cash machine withdrawals and capital controls in Greece.
EU officials have been conducting conference calls in the last few weeks in order to agree upon the strategy in case Greece leaves, although they emphasize that it might not happen at all and that the plans they are devising are just preparations for an eventuality.
