Report: Athens mulls abandoning euro
ATHENS, Greece, May 6 (UPI) -- Ellas is considering withdrawing from the eurozone and reinstating its own currency, Teutonic publication Der Spiegel reportable Friday.
Citing grouping old with the situation, Der Spiegel reportable Prime Minister martyr Papandreou is considering the choice in grappling of Greece's large economic problems.
A spokesman for the Hellenic Embassy in Washington titled abandoning the euro "absurd" and "out of the question," MarketWatch.com reported. The spokesman said no mechanism was in locate modify if the country desired to yield the eurozone.
The dweller Commission titled a crisis meeting of eurozone ministers to discuss the matter in Luxembourg, sources said.
German Finance Minister Wolfgang Schauble indicated he would bring to the meeting an internal paper prepared by experts within his ministry warning of possible stricken personalty should Ellas drop the euro, Der Spiegel said.
"It would lead to a considerable devaluation of the new [Greek] husbandly nowness against the euro," the paper said.
German Finance Ministry estimates inform the nowness could retrograde as much as 50 proportionality of its value, resulting in a skyrocketing increase in Hellenic national debt.
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