Breaking : Secret German cell ‘examining consequences of Greek euro exit’

August 24, 2012.

Germany’s finance ministry is examining the possible consequences of Greece leaving the euro.

According to a report in the Financial Times Deutschland, a secret cell has been set up within the German finance ministry to examine the possible consequences of a Greek exit from the eurozone.

The paper said the group was working on “calculating the financial consequences” and considering “how to prevent a domino effect onto other eurozone countries”.

The report came as Greek Prime Minister Antonis Samaras is due to arrive for a meeting with German Chancellor Angela Merkel, likely to focus on Greece’s future in the eurozone.

It is expected Dr Merkel will refuse Mr Samaras’ request for more time to make spending cuts.

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