Despite much confusion on this point, there does not appear to be any insurmountable legal barrier to a country leaving the euro and remaining within the European Union (EU), even without the prior agreement of other member states. Nor is it absolutely necessary to be a member of the EU to benefit from free trade within Europe or many of the non-economic benefits of closer European integration. But whatever the legal technicalities, we would expect a country like Greece to seek to remain within the EU even after exiting the euro, and believe that this position would be endorsed by other members.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.