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Heading For a Breakup? EU Leaders Discuss Possible Greek Exit, Seek Legal Advice

As the possibility of a Greek exit becomes more likely, leaders in the European Union are seeking legal advice from the European Commission on how to shift money and keep people within borders, the Associated Press reports.

“European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro,” Reuters  reports.

E.U. spokesman Olivier Bailly said Tuesday that, legally, the EU can limit the movement of people and money across national borders “if it’s necessary to protect public order or public security.”

“There is a possibility for member states to restrict movement of capital in specific cases relating to public order and public security,” Bailly told reporters.

Yes, you read that right. The EU can legally limit the movement of people and capital if it deems it a “safety issue.”

Bailly added that the EU cannot restrict the movement of people or money if it’s for “economic reasons.” But who gets to define what’s a “safety issue” and what’s an economic issue? The same people who thought it was a good idea to let Greece into the eurzone?

“Some people are working on scenarios,” he said, but refused to confirm or identify which organizations and people were working on them.

Perhaps hoping to calm anxious investors, Bailly insisted that although multiple scenarios are being discussed, the only one that’s being taken seriously is one where Greece remains in the 17-nation union.

“The Commission is not working on a Greek exit plan,” Bailly said, according to the Wall Street Journal.  “We‘re working on one plan and one plan only and that’s to keep Greece in the euro zone.”

The Associated Press contributed to this story. Front page photo source: Global Economic Intersection

Comments (38)

  • IC
    Posted on June 13, 2012 at 3:43pm

    Europe will implode eventually because of these
    debt issues. They will be pulled out of the
    implosion by political unification.

    Report Post »  
  • Magyar
    Posted on June 12, 2012 at 10:19pm

    The underlying failure stemmed from the assumption that 17 countries with differing ethos could possibly be united by a common currency, the Euro! Such a foolish belief. The Euro is on life support and unfortunately, death is imminent!—and the patient is not expected to survive!

    Report Post »  
  • Magyar
    Posted on June 12, 2012 at 10:04pm

    The underlying failure was to assume that all 17 nations with different

    Report Post »  
  • Apple Bite
    Posted on June 12, 2012 at 9:28pm

    You know, some of you were too good to vote in ‘08, and now have the nerve to be upset with this idiot in office. We’re back where we were four years ago, why should we believe you won’t do the same again?
    As for the Paul-bots, back to your caves! The biggest fear going into November is knowing you guys don’t have the fortitude to vote Obama out of office due to being so spiteful! You will likely be the reason he wins again! Sometimes you have to take the lesser of two evils, not everyone behind Romney right now made him their first choice, and yet, you chose to play dumb, pretending not to know what the consequences are!

    Report Post » Apple Bite  
  • VanceUppercut
    Posted on June 12, 2012 at 8:06pm

    What Cons don’t like to talk about is that the reason for Europe being in such dire straits right now is that Conservatives got into power and immediately instituted harsh austerity measures, which is what the Republicans are promising to do if they take the White House. I guess just because it failed in Europe they see no reason why it won’t work in the U.S.

    Report Post »  
    • Steel
      Posted on June 12, 2012 at 9:21pm

      It seems just about everyone with a brain, with the possible exception of you, knows you can’t save money by spending it. In America today, the more the government spends, the more dependent we become on those to whom we owe money. The prime example is China. If you agree with the Democrat method of running this country’s economy, you liberals and your ilk had best begin teaching your children to speak Chinese, because when China controls our money they control everyone. But then you wouldn’t be able to figure that out because most of you are on the “dole” and have been purchased heart, mind, body and soul by the democrat. They own you and you owe everything to them! It’s the new form of old slavery. I‘ve never been a slave to anyone and I won’t start today. All I have to do is look at people like you to know what its like to do someone else’s bidding. If you’re not a liberal by age 20, you have no heart. If you’re not conservative by age 40, you have no brain! Time to wake up and throw off your shackles. Get a job, earn a decent day’s wages, save some money and don’t go into debt. That’s the formula for a good life – and one conservatives, aka Republicans, support, live and earnestly hope for all sensible individuals everywhere. If you, like most liberals, do the opposite, you wind up in one place – bankruptcy. That’s where you democrats are leading the country – right behind obama.

      Report Post »  
    • RJL
      Posted on June 13, 2012 at 8:56am

      @STEELSTUPID…..the Democrats ruined the poor by the welfare and nanny state. The Republicans ruined the middle class with their unfair trade practice all in the name of GREED.

      The Republicans finished off what was left of this country by the stupid trade deals they made (NAFTA….etc….).

      You people have a lot of confidence in “the chosen one”. The problem with him is he doesn’t like the poor or the middle class. There is no way he is going to cut 1.5 Trillion (Bush 500B, Obama 1Trillion) from the budget just to balance it for only 1 year.

      Report Post »  
  • Grace1798
    Posted on June 12, 2012 at 5:43pm

    This is where Obama is taking us. And those who are voting for this man JUST on the basis of the color of his skin just show themselves to lack true perception and ability to see the reality of what’s really happening right in front of their eyes. They are, in essence, destroying the future of their own children and grandchildren who will rise up to curse them IF Obama is reelected on their vote.

    Report Post » Grace1798  
    • Hollywood
      Posted on June 12, 2012 at 5:56pm

      Barry IS a Fabian socialist, but probably does not even KNOW he is. This man is NOT intelligent. The media portrays him as such, but I have NEVER heard him speak extemporaniously w/o screwing up.He thinks his SMILE will see him through. DUFUS, comes to mind.

      Report Post » Hollywood  
    • barber2
      Posted on June 12, 2012 at 7:42pm

      Affirmative action..hidden school records comes to mine…

      Report Post »  
  • MRMANN
    Posted on June 12, 2012 at 4:02pm

    Safety issue vs. economic issue–deeply chilling

    Report Post »  
  • rsanchez1
    Posted on June 12, 2012 at 3:11pm

    Pretty soon, European immigration will rise to the levels it was in the early 1900s, it will be in much higher numbers than immigration from central and south America, and we’ll have a much worse illegal immigration problem on our hands. They will flee Europe when the EU enacts draconian measures like limiting the movement of people and money.

    Report Post »  
  • suedstate
    Posted on June 12, 2012 at 1:29pm

    The Euro was the first attempt at Global Government, now that it is falling to pieces guess who is going to be there to pick the flesh off the carcasses, The Bilderbergs, The Global Elite (This includes Soros) he was already salivating about this a week or so ago.
    As everyone notices these bailouts are going to stabalize the banks not the general population (sound at all familiar Bank Bailouts?? now they are in trouble again, they must be laughing at the stupidity of the lowly taxpayer who is getting shafted by these Global Elites over and over again, ELIMINATE THE FEDERAL RESERVE, UN, IMF and all the other bloodsucking organizations that get rich at the expense of hardworking people.
    NO ORGANIZATION OR GOVERNMENT IS TO BIG TO FAIL, LET THEM GO AND START OVER AGAIN..

    Report Post »  
  • jfreak13713
    Posted on June 12, 2012 at 12:57pm

    Folks, this collapse will not take place without countries fighting to the bitter end to protect what they believe is theirs! World Wars have been started over much less so imgaine if you will what the outcome will be when countries start going bankrupt and have to find some way calm their citizens?? The only hope is that America excepts the responsibilty granted by God to lead by getting ourselves and spending under control. If we come apart the world will go dark!

    Report Post »  
  • barber2
    Posted on June 12, 2012 at 12:43pm

    Just another Trash the Blaze comment from the Obama Campaign Committee….

    Report Post »  
  • ChiefGeorge
    Posted on June 12, 2012 at 12:39pm

    The EU seems to be much like the last empire Daniel saw in Nebacanezzers dream. An empire with TEN Kings..“The Ten” is the formal borad of the EU as of July/2011, it would be like Iron and Clay. The seed of men would not cleave one to another. It would have some strength like iron but be brittle like clay. Seems like a very good description of the EU as the seed of men do not cleave one to another due to the differences in race. The super state has tried so hard to integrate the people like the US is intergrated. But in the former Europe, these were all nation states and were not meant to be brought under one system of governance. We can see how this is not working and they have said the multiculture is a failure in Europe….more proof of what Daniel said.

    Report Post » ChiefGeorge  
  • Ron Staiger
    Posted on June 12, 2012 at 12:37pm

    What shmucks the Germans were to get involved with a bunch of politically and fiscally disfunctional losers! Only a moron like Obama would look to Europe for inspiration.

    Report Post »  
    • barber2
      Posted on June 12, 2012 at 12:44pm

      Bingo. Obama has tried to model America after his best friends in the International Left. We can surely see where they are headed !

      Report Post »  
    • Zipit
      Posted on June 12, 2012 at 12:58pm

      European socialism is Obama’s inspiration! Isn’t it ironic however, that he partly blames our inability to recover from economic recession on their failure! I maintain that they would be much better off today if we hadn’t spent the last three years trying to be just like them……..

      Report Post »  
  • Popp40
    Posted on June 12, 2012 at 12:34pm

    Soros must be psychic…..he said this would happen!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    Report Post »  
    • barber2
      Posted on June 12, 2012 at 12:42pm

      or cleverly pushing the wacko Lefty policies which have led to this mess ! You know that ” spend your way to saving / prosperity ” wacko economic policies of the Krugman / Obama crowd .

      Report Post »  
    • abbygirl1994
      Posted on June 12, 2012 at 1:24pm

      It all was pre-planned and Soros has lots of practice from other contries he has destroyed!! He is a evil evil man!

      Report Post » abbygirl1994  
    • VanceUppercut
      Posted on June 12, 2012 at 8:09pm

      @abbygirl1994
      Ah, from the mouths of babes.

      Report Post »  
  • Mutiny
    Posted on June 12, 2012 at 12:31pm

    This is where we are headed with Obama/Romney 2012. Global government is on the horizon. Bankruptcy and economic collapse around the globe, followed by wars, famine, rapes, riots, and murders. Then the global government will form to save/enslave the people. Remember the rest of the world will not be brought up to our standards, we will be brought down to theirs.

    Good job, GOP sheep.

    Report Post » Mutiny  
    • barber2
      Posted on June 12, 2012 at 12:40pm

      Here we go again. Like Obama is a better solution ? Oh, wait. Maybe you just want America to be rolled faster into the “ revolution” the hoodie/ anarchy crowd has been calling for for the past two years ? The ones who have been posting such comments in that Lefty mouthpiece, The New York Times ! Is that the rationale behind Vote For Obama goal of you guys ? Or are you really just Obama dudes trolling the conservative “ dummies” you think comment on the Blaze ?

      Report Post »  
    • Mutiny
      Posted on June 12, 2012 at 1:07pm

      @barber

      Yet you are the won voting for a guy much closer to Obama policy wise. Hmm, I think you are the lefty GOP sheep.

      Why not instead of just calling people lefty, goon, kook, loon, crazy, blah blah blah answer the questions about your candidate.

      1. We have a spending problem and Romney has a budget that doesnt cut current spending levels. That is a endorsement of Obama’s spending. Do you also endorse Obama’s spending?

      2. Do you support freedom stripping bills that are purposely destroying the Constitution? Romney supports the Patriot act and the NDAA, do you?

      3. Do you like the UN? Romney does. Do you think we should be the policemen of the world?

      4. Do you like Romney stance on gun control? He thinks gun control laws keep us safe, do you?

      5. Does it bother you at all Romney has supported Bernanke till just recently. The problem is Bernanke is doing the same things now as he was when Romney was for him. What changed? Oh yeah, he is trying to court voters and look like something he isnt. Do you find it odd he doesnt think the FED is a problem?

      6. Do you ever question why both Obama and Romney are funded by the same big global banks?

      I am guessing you either will ignore the questions or just say “well he isnt a communist” crap. If he leads us to the same place as Obama what is the difference? Sad sad little sheep you are Barber. Maybe you can submit questions to your talk radio hosts and get some answers, since they do yo

      Report Post » Mutiny  
    • bennylava
      Posted on June 12, 2012 at 1:13pm

      @Barber2

      Maybe some folks are more worried about their principles, rather than just voting for their team, regardless of who they field. Just because Obama sucks doesn’t automatically mean Romney rocks. Just because Obama is worse, doesn’t mean Romney is the right choice for President.

      Report Post »  
    • Teabunny
      Posted on June 12, 2012 at 1:16pm

      hey barber…Obama/Romney 2012 is what he said. read before you post. your attention span is short, and singularly focused. And I agree…meet the new boss…same as the old boss.

      Report Post » Teabunny  
    • Mutiny
      Posted on June 12, 2012 at 1:17pm

      The Blaze and their bad “characters remaining” feature is not good.

      continued..

      The talk radio guys do your thinking Barber.

      Report Post » Mutiny  
    • barber2
      Posted on June 12, 2012 at 3:37pm

      Sheeple..sheeple..sheeple. …neocon..plutocrat..oligarch…..whatever. Always notice you can not make a comment without including a juvenile insult. Well, kids, time for the “ sticks and stones” comment. I consider an insult from you all , the highest form of compliment. And there is NO ONE worse for this country’s successful future than Obama. Period. ( pssst: the talk show guys told me to write that ! )

      Report Post »  
    • Mutiny
      Posted on June 12, 2012 at 4:02pm

      I was correct you would ignore Romney’s record because in all honesty its inexcusable. Continue posting and attacking me that is fine. Your boy Romney is being completely exposed and is going to hand Obama the election in the fall. You just fell for it.

      Are you going to change your name after the election or just quit posting?

      Report Post » Mutiny  
    • barber2
      Posted on June 12, 2012 at 7:13pm

      Obama will not win nor will I be changing my name like so many of our Just Tim Trolls do .

      Report Post »  
    • Mutiny
      Posted on June 12, 2012 at 7:35pm

      @barber

      No matter which one wins we all lose. If we dont stop the spending we are bankrupt. Your boy doesnt stop the spending.

      Report Post » Mutiny  
  • barber2
    Posted on June 12, 2012 at 12:23pm

    What is Soros doing ?

    Report Post »  
  • The_Almighty_Creestof
    Posted on June 12, 2012 at 12:23pm

    “Papers, please!”
    Insert cheesy mustache, thick accent & black trenchcoat.

    Report Post »  
  • Landon410
    Posted on June 12, 2012 at 12:07pm

    who would have thought that a multinational currancy and liberal ideas would have caused everyone involved to go brankrupt, sad part is they never saw it coming until its too late

    Report Post »  

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