The Euro Has No Rule for What Happens If a Country Leaves

You think a monetary union of this size has rules for the worst case. The TFEU has rules for deficits, bailouts, and bank failures. It contains no procedure for settling TARGET balances if a member state exits.

The silence was deliberate. Writing the rule would have meant admitting exit was possible. So if exit ever happens, the question of who owes whom one trillion euros gets answered under crisis conditions.

See the full episode on the channel.

Видео The Euro Has No Rule for What Happens If a Country Leaves канала Beneath Systems