Germany prepares for Greek bankruptcy

GMT 21:15 2015 Friday ,12 June

Arab Today, arab today Germany prepares for Greek bankruptcy

German Chancellor Angela Merkel
Berlin - MENA

The German government is weighing what to do if the Greek state goes bankrupt, the daily Bild reported on Friday.

Citing several individuals familiar with the matter, the paper said German authorities were holding "concrete consultations", including about introducing capital controls in Greece if it goes bust, the paper said.

Bild said a debt haircut for Greece was also being discussed and that German government officials were in close contact with the European Central Bank.

Germany, however, did not have a concrete plan on how it would react if Greece goes bankrupt, Bild said, adding much would have to be decided on an ad-hoc basis.

The report comes after the International Monetary Fund (IMF) dramatically abandoned Greece debt talks in Brussels on Thursday, citing major disagreements.

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