Could this be used on the GREEKS??

Reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
22/12/2009 14:44

http://www.nytimes.com/reuters/2009/12/22/business/business-uk-ecb-treaty.html





FRANKFURT (Reuters) - The new European Union Treaty could allow a country to keep using the euro even if it left the euro zone, an European Central Bank paper said on Tuesday.



Expelling a country from the EU and monetary union was also technically possible under the newly-ratified Lisbon treaty, although very unlikely, ECB legal counsel Phoebus Athanassiou said. The legal working paper looks at the implications of a new exit clause in the new EU treaty, which spells out arrangements for the voluntary withdrawal of member states from the EU.



"Recent developments have, perhaps, increased the risk of secession (however modestly) as well as the urgency of addressing it as a possible scenario," the author said.