In Germany, the government has firm beliefs that the euro zone is going to be able to cope with the exit of Greece, if it is something that’s unavoidable. On Saturday the Der Spiegel news magazine reported that government sources that haven’t been named had said this.
The chancellor and financial minister both believe that the euro zone has had enough reforms since the peak of the regions crisis back in 2012, in order to survive a possible exit from Greece, the magazine reported.
It was said that a contagion danger was limited because Ireland and Portugal are both considered to be recovered from 2012. The magazine didn’t mention the name of the source, but it is said that the source is a reputable government one.
Also the (ESM), European Stability Mechanism, which is the bailout fund for the euro zone is said to have a very successful strategy that is available should a country need rescuing. Top banks are all protected by the union for banking.
When contacted, the government in Berlin were not able to be reached to comment.
However, it still remains uncertain how a country that is a member of the euro zone would be able to leave the euro and still be able to stay in the European Union. Der Spiegel also mentioned in the article that there would be resourceful lawyers on hand to be able to clarify the situation.
The government in Germany think that the exit of Greece is inevitable and should the left-wing Syriza opposition party, under Alexis Tsipras rule were to be elected on the 25th of Jan, and then Greece would almost certainly exit the Eurozone.
The election in Greece was called because lawmakers in the country failed to be able to elect a president in December.