ECONOMY

Schaeuble did not want a Greek euro exit, finance ministry source tells DW

The German Finance Ministry has denied speculation that Wolfgang Schaeuble wanted to kick Greece out of the eurozone, Deutsche Welle’s Greek program reported on Thursday quoting unnamed sources inside the ministry.

However, according to the same source, European Union officials were examining scenarios concerning the implications of such an event.

“The German Finance Ministry categorically denies that Wolfgang Schaeuble has in the past demanded Greece’s exit from the euro area. The aim of his efforts has always been to preserve the cohesion of the eurozone and the stability of the euro,” the source said.

“Schaeuble’s position has always been that Germany wants the country inside the euro area and that it is up to Athens to decide whether it wishes to stay in it or not.”

Moreover, the source confirms reports that EU officials were examining the repercussions of a likely Grexit and how these could be tackled, but denies speculation that there were plans for an organized Greek euro exit.

According to a report on Wednesday Financial Times journalist Peter Spiegel, bureaucrats from the European Central Bank, the European Commission and the IMF were secretly preparing a contingency strategy should Greece leave the eurozone. It was known as Plan Z.