Forced Grexit legally impossible

Some voices in EU capitals claim the only response for Greek bankruptcy is for the country to leave the eurozone yet this ignores the legal basis for the EU and the single currency area.

While leaving the EU is clearly regulated in Article 50 of the treaty there is no similar article for leaving the eurozone.

The treaty says the euro will replace the domestic currency when the convergence criteria are met. The relevant treaties regulate access to and membership in the eurozone in ...