The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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ECB, EU draw up Greek exit plans: trade chief

FRANKFURT (MarketWatch)
The European Commission and the European Central Bank are working on contingency plans in the event Greece exits the euro, Trade Commissioner Karel De Gucht said in an interview with a Belgian newspaper published Friday, news reports said
The ECB and the commission, which is the executive arm of the European Union, are "working on emergency scenarios in case Greece does not make it," De Gucht was quoted as saying
A commission spokeswoman denied any contingency plans for a Greek exit were being prepared, while an ECB spokesman said the bank doesn't "engage in any speculations about any emergency plans or possible scenarios" and would therefore not comment on the statement, Dow Jones Newswires reported

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