Top

German Authorities Ready for Greece’s Exit From Euro Zone: Reports

German Chancellor and Finance Minister believe that euro zone will cope with Grecce's exit, if such necessity occurs

Baku. 4 January. REPORT.AZ/ German authorities are ready for Greece to exit the euro zone, if such necessity occurs, Spiegel Online magazine reported Saturday, citing the sources in government.

German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble believe that euro zone will cope with Grecce's exit, while previously the federal government had an opposite view. The fact that the euro zone has made a significant progress since the peak of the financial crisis in 2012, could be a possible reason behind politicians' change of opinion, according to the magazine.

Spiegel noted that the German government considers the exit of Greece from the euro zone inevitable if Alexis Tsipras, the leader of the opposition party Syriza, wins the upcoming elections, as in case of his victory, the Greek government will backtrack on the austerity measures, halt the interest payments and repayment of the national debt.

Spiegel has quoted a high-ranking expert on currency issues as saying that although it is currently unclear how an EU member can leave the euro zone, remaining in the European Union, lawyers would be able to make it clear.

Report informs, the Greek parliament is to be dissolved after failing to elect the country's president in a third round of voting. According to Greek Prime Minister Antonis Samaras, the snap elections will be held on January 25. The opposition party Syriza, which promised to reconsider country's agreements with foreign creditors, could win the election, according to the polls.

If you find out orphographic mistake in the text, please select mistaken part of the text and press Ctrl + Enter.

Last added

All news


Orphus sistemi