Commission denies working on exit plan for Greece

The European Commission denied reports on Friday that it has been working on an exit plan for Greece

?We completely deny that we are working on any such emergency plans» a spokesperson told Market News International.

?We are concentrating all our efforts on supporting Greece and keeping it in the eurozone. That is the scenario we are working on,? the spokesperson said.

The denial comes a few hours after EU trade commissioner Karel De Gught told a Belgian newspaper that the Commission and the European Central Bank are working on an emergency scenario in case Greece has to leave the euro zone.

?A year and a half ago there may have been the danger of a domino effect,? De Gught said in an interview with De Standaard.

?But today there are, both within the European Central Bank and the European Commission, services that are working on emergency scenarios in case Greece doesn’t make it.?

Meanwhile, an industry source told Reuters Friday that De La Rue has drawn up contingency plans to print drachma banknotes should Greece exit the euro and approach the British money printer.

The source, who asked not to be named, said that as a commercial printer De La Rue needed to be alive to the possibility of a Greek exit from the single currency and prepare accordingly.