Germany prepares for Greek exit from the euro

unnamedChancellor Angela Merkel

Germany is bracing itself for a period of chaos and instability amid claims Greece will exit from the euro.

Finance minister Wolfgang Schäuble said he is resigned to the possibility of a Greek exit from the calamitous euro experiment.

In a TV interview on Thursday evening he was asked if he could envisage it and he replied: ‘Yes, because the responsibility, the ability to decide what happens, resides with the Greeks, and because we do not know what the leaders intend to do in Greece, we cannot exclude it.’

Chancellor Angela Merkel has also run out of patience with the new anti-austerity government in Athens, reports suggested.

Their comments represent a tectonic shift from the previous undiluted support Germany offered Greece – a country whose financial mismanagement is loathed by EU lawmakers.

And in recent days tensions between Berlin and Athens have spiked even further.

The new Tsipras government first threatened to seize German businesses and assets if Germany did not provide billions of pounds of compensation for damages caused during the Nazi occupation during World War II…

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  • andycanuck

    Shouldn’t that be “Teutonic shift”?

    • dance…dancetotheradio

      That’s a good one!

  • Observer

    Maybe it should be the EU that leaves Greece and kicks out Romania and perhaps a few other grossly indebted countries who fleeced their fellow member countries out huge sums of money with it?

    • Frau Katze

      Cyprus was bad too.

      • AlanUK

        Another load of rubbish below.

  • cmh

    they should all exit from that failed experiment called the eu

  • Brett_McS

    It’s not the Greek exit, per se, that is the problem. It’s the Spanish exit that could follow.

  • BillyHW

    In truth, the Euro was a bad idea for everybody. It’s time for the whole thing to end.

  • J. C.

    Is it just me, or is Merkel looking more and more like Dr. Zola as time goes on??? 😉

  • Barrington Minge

    How did anybody really believe that so many diverse economies could operate under a single currency anyway. To me (at least) it was painfully obvious that what was economically good for Italy and Greece, would in no way be good for Germany.
    I think the Greeks should bite the bullet and get out. The whole false facard will then probably collapse.

    • canminuteman

      What is obvious to you was obvious to an awful lot of people, just not the right people.

  • simus1

    The Federal Germans made a complete hash of East German reunification, plus letting in the south european poseurs with their corrupt government ways left unchecked was really stupid. Treating countries or half countries mired in sloth and mismanaged economies as good prospects once all cutting edge euro welfare programs got applied to them was a fantasy.of epic proportions.
    Not a complete loss when you consider that Poland and some of the other former satellites to a lesser extent got a real lift on their way to real economic progress thanks to Germany’s “help” being focused elsewhere.