Tuesday 17 January 2017

Euro exit

Published 04/10/2011 | 10:33

•The deputy leader of Germany's Christian Social Union (CSU), one of three parties in Chancellor Angela Merkel's centre-right coalition, has said Greece may be better off leaving the eurozone if it cannot restore its fiscal health.

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By returning to the drachma they would have the option of devaluing to control interest rates, manage debt and lending and restore competitiveness.

"It's quite possible that it's dawning on Greeks that restructuring their economy outside the eurozone for a limited time period would be easier than inside the eurozone," Alexander Dobrind said. "And that's why we've been saying: it must be possible to leave the eurozone."

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