The Financial Times published an article by Wolfgang Münchau detailing the four options available to the Minister of Finances Yanis Varoufakis in order to support and fund the Greek economy.
In the article entitled “All Grexit needs is a few more disastrous weeks like this”, Münchau notes that the political situation in Greece is just as bad as it was in 2010, when the Greek debt crisis began.
Mr. Münchau believes that Greece and its creditors have only a few more days to come to an agreement, as Wednesday’s Eurogroup will greatly affect the next months.
The columnist notes that the Greek Minister of Finances has four options to cover the country’s funding needs over the next few months:
- Extending the current bailout program
- Requesting from the ECB to release interest payments and profits from the Greek bonds it acquired during the crisis
- Finding funding for other sources, such as Moscow
- Issuing a parallel currency for the domestic market in order to cover public expenditure
