'NO' Vote More Likely After Germany Blinks On 'Grexit'
In the final hours before Greeks vote in a referendum Sunday, German Finance Minister Wolfgang Schäuble has abandoned his country's stance that a 'NO' vote means a certain exit from the euro currency. The hardline CDU colleague of Angela Merkel also seemed to indicate that ECB liquidity support for Greek banks --currently withdrawn for a week, forcing their closure-- would resume after the referendum, regardless of the outcome. In an interview with Bild, Schäuble said: “ Greece is a member of the eurozone. There’s no doubt about that. Whether with the euro or temporarily without it: only the Greeks can answer this question. And it is clear that we will not leave the people in the lurch. ” Parsing his words carefully, the first two sentences of his statement above seem to quite definitively rule out a Greek exit from the Euro zone, despite his lukewarm reference to a "temporary" conditionality. “It is clear that we will not leave the peopl...