(Die Zeit) federal government is working on plans without bankruptcy Euro-Off

federal government is working on plans without bankruptcy Euro-Off

How could run a sovereign default without that Greece would have to withdraw from the monetary union? According to information of a scenario TIME is it developed.

The federal government is working on a plan that would allow it to keep Greece in the case of a sovereign default in the euro. According to information from the TIME fears the coalition in Berlin that the government in Athens in one of its payment obligations possibly coming weeks can not meet. In such a case, the European Central Bank (ECB) would have to stop supplying the country with the euro.

Last week, Greece could barely afford a due payment to the International Monetary Fund (IMF). The now-discussed plan aims to enable the ECB to finance Greece in case of a failure further . For this, the Greek banks would be restored to the extent that they can participate in the financial transactions of the central bank even after a bankruptcy.

Prerequisite for such a concession is but how it is said that Greece are cooperatively show and was ready to meet the reform requirements. If this is not the case, will take a secession from the monetary union in buying the federal government. Even then Greece will but as far as possible be tied to Europe - through aid flows from Brussels to facilitate the transition to its own currency.