Searching for the Ariadne‘s thread – The Legal Complexities of »Grexit« and »Graccident«
It seems more and more likely that Greece will not be able or willing to fulfill the reform demands by the Eurogroup, condition for the payment of available funds under the prolonged financial assistance programme, not to mention an additional programme. The immediate consequence seems obvious: Greece would, deliberately or not, have to leave the Euro. But that is tremendously problematic, legally. Should grexit or graccident still occur – the regulatory power of monetary law is sometimes limited – this would produce an aftermath of legal proceedings and generate legal uncertainty for years to come, at least in Greece.
