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Full Version: Greece Considers Exit from Euro Zone
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The debt crisis in Greece has taken on a dramatic new twist. Sources with information about the government's actions have informed SPIEGEL ONLINE that Athens is considering withdrawing from the euro zone. The common currency area's finance ministers and representatives of the European Commission are holding a secret crisis meeting in Luxembourg on Friday night

Greece's economic problems are massive, with protests against the government being held almost daily. Now Prime Minister George Papandreou apparently feels he has no other option: SPIEGEL ONLINE has obtained information from German government sources knowledgeable of the situation in Athens indicating that Papandreou's government is considering abandoning the euro and reintroducing its own currency.

Alarmed by Athens' intentions, the European Commission has called a crisis meeting in Luxembourg on Friday night. The meeting is taking place at Château de Senningen, a site used by the Luxembourg government for official meetings. In addition to Greece's possible exit from the currency union, a speedy restructuring of the country's debt also features on the agenda. One year after the Greek crisis broke out, the development represents a potentially existential turning point for the European monetary union -- regardless which variant is ultimately decided upon for dealing with Greece's massive troubles.

Given the tense situation, the meeting in Luxembourg has been declared highly confidential, with only the euro-zone finance ministers and senior staff members permitted to attend. Finance Minister Wolfgang Schäuble of Chancellor Angela Merkel's conservative Christian Democratic Union (CDU) and Jörg Asmussen, an influential state secretary in the Finance Ministry, are attending on Germany's behalf.,00.html
Watching the news tonight; US banks hold 54% of Greek debt. They go; we get hit hard!


This article is more than a month and a half old.
Its still great information, and if I remember correctly it was not posted already.
(06-23-2011 11:07 PM)maytagday Wrote: [ -> ]Watching the news tonight; US banks hold 54% of Greek debt. They go; we get hit hard!

I LOVE it. The more pain we feel over here, the more sheep will wake up and start doing something about it.


North Europe has a Plan B for the EURO, don't spoil it!

Most counties around the north sea never joined the Euro.
Why not found the old sucsecfull Hanse tradae block again. Togethe with Netherlands, UK , Norway GER & Scandinavia etc we rere far more stable and successful then the Renaissance guys.

Yes, we loose 30% on the EURO exit, but we know what we got:
Real Friends & future of Northern Europe.
Probably Profit withe a strong new currency.

Take your loss. Europe was never one.
No one united EUrope last thousand years and that is it's strength. Greece is for holidays and you should pay there with holiday fake drachma. Greek people will have a bright future as one big holiday resort with holiday currency. How they manage, the market will judge. Please be what you are and want to be.

It is reasonable th ask for a moment where to say STOP. At this moment no one tells. That is alone reason enough to leave the Euro. North Europe has a Plan B, don't spoil it! If you do not have a serious plan, you cannot negotiate. The north has a plan B and it is even better off. This is the end of the EU. Political decisions without a seroius plan B are always bad. Like entering the Euro, afganitan and much more. Never pay without having an alternative. It is blackmail politics.

North Knows!
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