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The European Union's executive admitted Tuesday
it had been asked to provide legal advice for contingency plans on a
Greek exit from the euro -- while insisting that it was not itself
involved in the plans.
European Commission spokesman Olivier Bailly said Brussels
authorities have "for several weeks" been dealing with enquiries
about the legal ramifications of "speculative scenarios on the exit
of a country from the eurozone."
A Greek exit would likely require capital and border controls, to
stop people taking euros out before they are converted into weaker
drachmas. Bailly said such controls are not possible for economic
reasons, but only on "very specific public order and security
grounds."
