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Europe said to weigh contingency plans as Greece talks drag on

Bloomberg  |  Berlin/Brussels 

German Finance Minister Wolfgang Schaeuble raised the possibility that Greece may need a parallel currency and European officials are making contingency plans for the Greek banking system as talks on unlocking aid remain stuck. Schaeuble mentioned the idea of parallel currencies at a recent meeting without endorsing it, according to two people who attended. The European Commission is looking at how to manage the possible failure of Greek financial firms and other events that may cause investor losses, two other people said. All asked not to be identified because the talks are ...

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First Published: Sat, May 23 2015. 00:11 IST