EU mulls limits over Greece possible exit

June 13th, 2012

FAKE NEWS for the Zionist agenda

The moves are among a raft of emergency options discussed by eurozone finance officials preparing for the worst should Athens be forced out of the euro.

EU officials said the drastic measures are part of a range of contingency plans, and emphasized that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen.

The report comes as Edward Meir, a top commodities market consultant at New York-based INTL FCStone Inc., said on Tuesday that Greek exit from eurozone could happen in the next nine to 12 months.

“Greece is in a straightjacket,” Meir said, adding that “The argument to keep Greece makes less and less sense.”

Meir offered suggestions on how to engineer an exit, considering there is no formula in the eurozone to allow a country to leave.

He said Europe could give Greece “a severance package” which might include suspending or reducing again its interest payments, writing off bailout money or use it to back the drachma and have two currencies in place for a while.

Greece has been in a recession for five years, with the economy having shrunk 15% over the past three years, the longest-running slump in modern times.

The country is seeing bank deposits leave and tax collection remains a problem. It is also unable to devalue its currency and has no industries other than tourism and agriculture exports.

MP/MA