Germany May Have a 'temporary Grexit' Plan: News Report

While Eurozone finance ministers were taking a break after three hours of talks on Greece's latest reform proposal, the German newspaper Frankfurter Allgemeine Sonntagszeitung reported that the German finance ministry is planning to propose a temporary five-year Grexit. The newspaper referenced a document by the German finance ministry that outlines a Grexit of at least five years from the common currency, which would give Greece the time to restructure its debt, while remaining in the EU. The Greek government quickly denied the existence of such a document, while the German side declined to comment. Meanwhile, former Greek finance minister Yanis Varoufakis commented on Twitter that the temporary Grexit plan is in conjunction with his view that German finance minister Wolfgang Sch�uble wanted to drive Greece out to “put the fear of God” into the French.