The German government has begun preparations for Greece to be ejected from the eurozone, as the European Union faces 24 hours to rescue the single currency project from the brink of collapse.Nine hours of acrimonious talks on Saturday night, saw finance ministers fail reach an agreement with Greece over a new bail-out package, accusing Athens of destroying their trust. It leaves the future of the eurozone in tatters only 15 years after its inception.
In a weekend billed as Europe’s last chance to save the monetary union, finance ministers will now reconvene on Saturday morning ahead of an EU leaders’ summit later in the evening, to thrash out an agreement or decide to eject Greece from the eurozone. Should no deal be forthcoming, the German government has made preparations to negotiate a temporary five-year euro exit, providing Greece with humanitarian aid and assistance while it makes the transition. FULL REPORT