Athens Mulls Plans for New Currency: Greece Wants to Leave Euro Zone

[sysop]

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 crisis meeting in Luxembourg on Friday night.

http://www.spiegel.de/international/...761201,00.html

[galie]

Here we go... I was expecting for this unfortunately.

Of course leaving the Euro would bee good now for Greece, but in the sort term only. For Europe however will be a bad thing across the board. Nevertheless, Greece some 10 years later they will face problems too (hyper inflation, mass emigration...) and they would ask to be in the Euro back again.

In a moment like this countries in the phase of joining the Euro should really consider its pros and cons, but once inside you should follow the agreement you signed for its contractual obligations.

I am sure for California now would be good to have its own currency too (it has similar problems as Ireland and Greece) but no one in its right mind is asking for leaving the Dollar. Here we just have highly irresponsible leaders and currency speculators alike.

[dentist]

Originally Posted by sysop

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 crisis meeting in Luxembourg on Friday night.

http://www.spiegel.de/international/...761201,00.html

probably its a market game

[PHOEVOS]

This is more indicative of a communications dysfunction between The Germany Ministry of Finance and Angela Merkel's office than any "contemplated" Greek action.

That in this electronic age, a journalistic institution like Der Spiegel is used as an instrument of riddle talk between German government departments only a few walking blocks apart, is an abominable shame.

[h.d.]

..... to black-mail another billion Euros from other Euro-Countries.

And stupid W. Schäuble is running / rolling immediately to convince the public that everybody has his individual price. Let's wait and see, how much we have to pay this time.

[BTraven]

When I got it right – I turned on television too late to get the whole message – had Juncker’s been intention to convince big countries like Germany and France to agree to his plan of converting Greek’s debts. He failed, of course since Mrs. Merkel fears regular voters could turn away at the next election. Spiegel-Online only managed to make credits for Greek even more expansive.

[septen]

This series on the Greek debt highlights the difference between scientific and socioeconomic “truth.” On May 6, Spiegel stated, “Greece Considers Exit from Euro Zone.” Despite denial from EU and Greece, many papers propagated Spiegel’s “breaking news.” The Euro fell against the dollar, the most in seven months.
The Euro has recovered since, but now the pressure is on to create the Greece monetary crisis.
Investors loaned money at a higher rate of interest, presumably because of higher risk. Hats off to a perfect finesse that the investors are made whole by institutional maneuvering, with the banks, government and press in synchrony!