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Many of the problems to an exit could be ameliorated by A Two Monetary Union Solution to Problems in the EMU -- NEUROS AND SEUROS. As to legal obstacles, it is a common practice of realpolitik for countries to break or renounce treaties when adherence to that treaty involves real or perceived conflicts with their national interests. If Italy, Spain, Greece and Portugal decided to proceed with a common plan to exit from the EMU and into a SEURO and announced a meeting in Rome or Madrid to agree on a treaty of union it is certain that Berlin would notice. If proper reforms to the EMU resulted that would be great, but if not, the treat could be turned into referenda for the various potential entrants into the proposed SEURO.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Dec 2nd, 2014 at 11:09:31 AM EST
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