Greece: Europe waits with baited breath

Greece : Europe waits with baited breath

The Greek government and its creditors dig in their heels pending the outcome of the 5 July referendum

02 juillet 2015 à 16h49

Pouvoirs

Three days ahead of the Greek referendum on the latest version of the proposal by Greece's creditors, Europe and the eurozone were waiting with baited breath, on 2 July, after the Greek prime minister's confirmation, the previous day, that the consultation would be held as planned. Symptomatic of the tension, Eurogroup President Jeroen Dijsselbloem, addressing the Netherlands' parliament, declared that the situation "is deteriorating due to the Greek government's behaviour". Dijsselbloem once again reframed the debate, saying that a 'no'…

Who would print new drachma?

If there is a forced return to the Greek drachma, Athens would be unable to print its new banknotes because "the presses were destroyed," said Greek Finance Minister Varoufakis, on 2 July. He stressed that printing new drachma was not his preferred option, because "we desperately want to stay in the euro". In a radio interview, Varoufakis explained that the presses had been put in storage right before the country joined the single currency. This situation would not prevent Greece from placing an order with another country, however.

Who would print new drachma?

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