Every Man for Himself?

Stratfor just put out a short news item:

Each eurozone country must prepare an individual contingency plan in case Greece decides to leave the zone, eurozone officials decided May 21, Reuters reported May 23. The agreement was reached during a Eurogroup Working Group conference. Two officials confirmed the agreement, and Reuters saw a memo that details some of the elements that eurozone countries should consider. A eurozone-level plan has not yet been prepared, an official said.

Granted every smart country will have a contingency plan – for the breakup of the eurozone and the EU. But a contingency plan for Greece’s exit? Isn’t this primarily an issue to be addressed by the EU and particularly the ECB? Is this in anticipation that all the common defence mechanisms put in place will fail?

Explain to us how this is not a loud call: “every man for himself?”

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