Limiting cash withdrawals, imposing capital controls or introducing border checks. These are the 3 main measures that the EU could implement if Greece decides to leave the euro. According to the news agency Reuters, EU finance officials have been discussing a so-called “contingency plan” ahead of the Greek elections next Sunday.
As political uncertainty grows in Athens, The European Commission on Tuesday insisted that there is no Plan B for Greece and they are working towards keeping Greece in the euro zone.
But EU officials told Reuters that they are analyzing if it is legally possible to control the movement of capital and EU citizens.
According to recent polls, the extreme-left party Syriza is set to win the elections. Syriza has vowed to refuse the austerity package imposed by the EU-IMF combo. Their victory could trigger a Greek euro exit. in which case, a contingency plan may be needed.