Beijing looking at Greek euro exit

Economic consequences of worst-case scenario being considered

The government is drafting plans to address the potential consequences of a Greek exit from the eurozone as leading Chinese economists warned that such a scenario could plunge the global economy into a new recession.

"The government is working on plans for the worst-case scenario of Greece leaving the eurozone later this year," Wang Haifeng, director of international economics at the Institute for International Economic Research, under the National Development and Reform Commission, told China Daily.