The march of Greece close to bankruptcy is set to dominate the next two weeks of European finance. And the European leaders are trying to develop a strategy to avoid the worst: allowing Greece to fail but at the same time keeping it in the Eurozone.
There are three measures under discussion: closure of Greek banks to avoid bank runs; introduction of controls on capital movements; issue of one Greek form of payment parallel to the euro, momentary and for internal use.
“It is not up to a minister to confirm or not the existence of a plan B – he explained Wolfgang Schaeuble –. But think of the reserve that preceded German unification”.
After the interlocutory outcome of the Riga summit (site of an unforeseen trial of the Greek Finance Minister, Yanis Varoufakis, described as an "amateur" by some European ministers at odds with him), it is increasingly difficult to predict what will happen on May 11, when Athens will have to repay the IMF 850 million euros, which for now it does not have.
The president of the Eurogroup Jeroem Djissembloem he reiterated that Greece's European creditors will not authorize the release of new financial aid until Athens - despite its imminent bankruptcy - agrees on a complete plan of economic reforms. Dijsselbloem also stressed that the currently frozen 7,2 billion euros of loans to Greece will no longer be available after June.
