Greece’s Syriza weaves scheme for default, return to national currency – media

Greece’s Syriza weaves scheme for default, return to national currency – media

A wing of Greece’s anti-austerity Syriza party is eyeing a plan to default on government debt and replace the euro with its own national currency in case negotiations on a bailout with its creditors fail, media have reported.

The plan envisions a default similar to the one implemented by Iceland during the 2008 financial crisis, along with the nationalization of the Greek banking system.

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