Post a bond or five-year “temporary” Grexit?
That is the latest development, albeit not the final word:
Should no deal be forthcoming, the German government has made preparations to negotiate a temporary five-year euro exit, providing Greece with humanitarian aid while it makes the transition.
An incendiary plan drafted by Berlin’s finance ministry, with the backing of Angela Merkel, laid out two stark options for Greece: either the government submits to drastic measures such as placing €50bn of its assets in a trust fund to pay off its debts, and have Brussels take over its public administration, or agree to a “time-out” solution where it would be expelled from the eurozone.
Finland, the Netherlands, and Slovakia, among others, don’t seem keen to have Greece continuing in the eurozone. And so yet another “final deadline” is approaching…