As Hope Lifts Athens Stocks, German Vice Chancelleor Warns Of "Gigantic Consequences" If Greek Talks Fail

Despite all the reassurances by various leaders that any Grexit or Greek bankruptcy would be 'contained', Sigmar Gabriel - vice-chancellor and economic minister of Germany's SPD party - unleashed some uncomfortable truthiness yesterday. With Greek stocks up almost 5% today as hope springs eternal, Gabriel warned of nothing less than “gigantic consequences” for Europe in case of a Greek bankruptcy.

 

Speaking on Germany's N24 TV, Gabriel exclaimed:

"It is good that Germany and France try again to find a solution then the political consequences of a Greek bankruptcy would be gigantic for eurozone. I believe that many people have the impression that it's better to make a painful break now than draw out the agony, but if a stone is out of Europe then Europe's union would be very differnt.”

With ultimate being thrown like plates in a Greek restaurant, we suspect - despite the rip-roaring rally...

 

...that this is anything but contained, even if Tspiras folds in the short-term.

h/t @KeepTalkingGreece