Post by linsal on Nov 28, 2011 7:15:52 GMT -5
NEW YORK (Dow Jones)--ICAP Plc is preparing its electronic trading platforms for Greece's potential exit from the euro and a return to the drachma, senior executives at the inter-dealer broker said Sunday.
ICAP is the latest firm to disclose such preparations, joining the growing ranks of banks, governments and other key players in the global financial system whose officials are worried enough about the stability of the common currency to be making contingency plans for a possible break-up.
The firm has been testing systems that would allow dealer banks to trade the drachma against both the dollar and the euro, ...
online.wsj.com/article/BT-CO-20111127-704357.html
IMO---this was bound to happen. Does anyone know if the Maastricht Treaty which "created" the EU provides for an orderly exit of a country?