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Euro: EU-ECB emergency plan for Greece exit, but Brussels denies

Karel De Gucht, European Commissioner for Trade, reveals how "both the ECB and the EU Commission there are services that are working on emergency scenarios in case Greece doesn't make it" - Berlin: the German government has a duty to prepare for the eventual exit of Athens from the euro.

Euro: EU-ECB emergency plan for Greece exit, but Brussels denies

The atmosphere at Camp David G8 it's already ruined. All the fault of Karel DeGucht, European Commissioner for Trade, who let slip alarming details about how things work in Brussels and Frankfurt in times of crisis. “Both to the ECB and to the EU Commission – De Gucht told the Belgian newspaper De Standaard – there are services that are working on contingency scenarios in case Greece doesn't make it“. It is the first time that an EU official has confirmed the existence of contingency plans. Not exactly a reassuring signal to send to the markets, considering that the political crisis in Athens risks destroying the plans of the EU and the IMF to save the country. 

A certain Silke Bruns, spokesperson for the German Finance Ministry, took care of it, who explained how the government of Germany has a duty to prepare for a possible exit of Greece from the euro. Words that forced theChancellor Angela Merkel to telephone the Greek president, Karolos Papoulias, to "clarify the German position" on support for Athens.

Inevitable that close around from Brussels also came immediate denial to the improvident statements of De Gucht: “This is not at all the scenario we are working on – replied the spokeswoman on duty of the European Commission, Mina Andreeva -. Everything we have done up to now and are doing is with a view to keeping Greece in the euro. And we do not comment on unrealistic scenarios”. Speaking of unreality, there is also another "scenario" to account for: the EU Executive is closed today due to the Ascension bridge.

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