Although Greece and its international creditors came closer to preventing a Grexit in Brussels last Monday, a secret European Commission Grexit report indicates that the possibility of Greece leaving the Eurozone was very real, and still could be, at least until a bailout deal is finalized.
“Kathimerini” newspaper cited EU officials saying that the European Commission had prepared a detailed Grexit plan that covers all the possible outcomes of such a scenario.
The lengthy document in question, which according to the report is stored in a safe close to European Commission President Jean Claude Juncker’s office in Brussels, was prepared in the last few weeks. It was written by a group of 15 European Commission officials that includes many who had some role in Greece’s previous bailout deals. The report analyzes around 200 implications of a Grexit.
Some of the issues explored in the report include the social consequences of a Grexit as well as whether this unprecedented occurrence could also lead to Greece’s exit from the European Union and the Schengen Area.
The report was allegedly shown to Greek Prime Minister Alexis Tsipras before he agreed to a new Greek bailout at the July 7 Euro Summit.
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