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Merkel asks experts to draw up plans to protect German economy from Grexit
Angela Merkel is resigned to Greece leaving the eurozone, it was claimed today, and has asked economic experts, diplomats and bankers to draw up emergency plans to stop fallout from a 'Grexit' wrecking Germany's economy.
The Chancellor's waning resolve could torpedo debt negotiations between Greece and its creditors, which were already in disarray after the International Monetary Fund last night broke off talks in Brussels, citing 'major differences'.
The German newspaper BILD today ran the headline: 'Now Angela Merkel is also planning for a Grexit!', adding that Mrs Merkel has been discussing the possibility of writing off some of Athens' debts and introducing capital controls – blocks on moving or withdrawing money – on customers of Greek banks.
Shares in some of Greece's biggest banks fell sharply on the Athens Stock Exchange as the country's debt negotiations stalled. Stocks in the National Bank of Greece fell almost 6 per cent, while Piraeus and Alpha banks fell more than 5 per cent.
'Grexit is not a taboo word any longer. In Berlin intensive planning is underway in the case of failure,' added Bild, quoting a senior diplomat who told the paper: 'Also the Chancellor now knows that the time is fast running out.'
Mrs. Merkel is said to be deeply disillusioned with Greece's refusal to implement further EU cuts and tax rises in order to qualify for another tranche of bailout cash.
Credit to Dailymail.co.uk
Read more: http://www.thisismoney.co.uk/money/article-3120648/IMF-quits-Greece-debt-talks-shock-announcement-citing-major-differences.html#ixzz3crNygqnp
http://nunezreport.blogspot.com/
Source: http://nunezreport.blogspot.com/2015/06/merkel-asks-experts-to-draw-up-plans-to.html
