Greece should leave the euro, says independent report

29th November 2012, Comments 0 comments

Greece should leave the euro is the conclusion of an independent commission which looked at the future of the currency on behalf of the ChristenUnie party.

The researchers looked at five scenarios, ranging from much closer integration to abolition of the euro and the reintroduction of national currencies.

It would be better all round if Greece left the eurozone and reintroduced its own currency which could then be devalued, say the researchers. This would not only allow the Greek economy to start growing, but also increase stability in the rest of the eurozone.

The report also makes two other recommendations: a large part of the Greek debt should be written off and the country should remain in the EU.

Muddling through

Commenting on the report, party leader Arie Slob said it is time the government told the truth. 'What we are doing now is muddling through, while the Greek debt will only increase,' he said.

Slob did not rule out the departure from the eurozone of other southern European countries.

Meanwhile, the debate on the latest Greek loan due to be held on Thursday has been postponed at the request of MPs, who say they need more time to study the agreement reached earlier this week by European finance ministers. A new date has not yet been set.



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