Monday, 23 April 2012

Never mind Holland, what about this?

The Telegraph has just reported this telling snippet on its "Debt Crisis Live" blog: "13.28 The European Investment Bank is including a legal clause in new contracts with Greek businesses that allows repayment in non-euro currencies, but a spokeswoman denied that it was preparing for an eventual Greek exit from the eurozone. "The first deal to include the clause was struck with the Public Power Corporation, as part of a €70m loan to fund a natural gas power station, according to Ekathimerini, which describes the option as a 'drachma clause'."




http://www.telegraph.co.uk/finance/debt-crisis-live/9220235/Debt-crisis-live.html



13.28 The European Investment Bank is including a legal clause in new contracts with Greek businesses that allows repayment in non-euro currencies, but a spokeswoman denied that it was preparing for an eventual Greek exit from the eurozone.
The first deal to include the clause was struck with the Public Power Corporation, as part of a €70m loan to fund a natural gas power station, according to Ekathimerini, which describes the option as a "drachma clause".