International Diplomat Magazine

Eurozone looks at Greek exit as leaders meet


Eurozone looks at Greek exit as leaders meetBrussels – European leaders, at odds over how to resolve the deepening crisis in the euro zone, have been advised by senior officials to prepare contingency plans in case Greece quits the single currency area.
“The Euro group working Group (EWG) agreed that each euro zone country should prepare a contingency plan, individually, for the potential consequences of a Greek exit from the euro,” said one euro zone official.
The Greek Finance Ministry denied there was any such agreement but Belgian Finance Minister Steven Vanackere, asked by reporters ahead of the EU summit said, “All the contingency plans (for Greece) come back to the same thing, to be responsible as a government is to foresee even what you hope to avoid.”
The news comes at a highly sensitive time with EU leaders gathering to try to breathe life into their struggling economies at a summit.