UKIP Leader Nigel Farage Predicts Grexit

Farage confidently predicted that Greece will leave the euro, allowing the destination to devalue its own currency and become a bargain hot spot for holidays.

A controversial choice of keynote speaker at this year’s ITT Conference in Malta, Farage even vowed to buy a Greek holiday from his local travel agent when Greece’s euro exit happens.

Farage described the euro as a disaster and said Greece will leave and return to the drachma. “They will have massive devaluation, probably 75%, and you guys will all be quite busy because Greece will become the number one holiday destination in the world.

“When that happens I have pledged publicly to go down to my local travel agent in Sevenoaks and book a seven-night holiday in Greece.”

Farage said the Greek economy had contracted 27% since 2008, more than the 16% that the UK economy endured after World War Two that led to the creation of the welfare state and the NHS.

“There is absolutely no prospect of any improvement at all because the Mediterranean now is going into a deflationary spiral,” he said.

Statements like this do little to ease Greek worries about the country's future in the eurozone. Worries which have risen again in the past few days, after a recent interview of German Fin Min Wolfgang Schaeuble, in which he hinted that the Grexit option is still on the table, if fiscal adjustment doesn't continue.