An extensive report published by the Guardian reveals details from the week of negotiations that culminated in a provisional Greek bailout agreement on the morning of July 13.
The report looks into the role of German Finance Minister Wolfgang Schaeuble‘s now infamous proposal for a temporary Grexit. It claims that on July 10, the German finance minister sent out an e-mail to a small number of “top officials.” The alleged e-mail asserted that should the Greek government refuse to implement additional reforms Greece should be offered a “time-out” from the Eurozone.
“Schäuble’s manoeuvre on Friday 10 July was breathtaking because it broke a taboo: membership of the euro is supposed to be irrevocable, and Schäuble demonstrated for the first time that Germany believed that the single currency was not forever – and that it was willing to push another country out,” the report notes adding that the plan caused fear among European politicians
The report cites anonymous officials who received the e-mail and described it as “brutal.” Although initially circulating among a closed circle, the proposal was later leaked to the media.
In a recent interview Schaeuble spoke on his proposed plan, noting that 15 of the 19 Eurozone finance ministers had endorsed it. The Greek, Cypriot, French and Italian finance ministers had rejected it.
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