http://www.ft.com/cms/s/0/c47bc3f4-0605-11e1-ad0e-00144feabdc0.html#axzz3FOjgvP5l

November 3, 2011 2:40 pm

*Merkel and Sarkozy break eurozone taboo*

By Hugh Carnegy, Chris Giles and Peter Spiegel in Cannes

In trying to contain the damage from the Greek prime minister’s surprise
call for a referendum on the latest €130bn bail-out for Athens, France and
Germany have broken the eurozone’s big taboo: the prospect of Greece
leaving the single currency.

The prospect of a Greek default and exit from the euro has long been
discussed in private, not least in Germany. But for the eurozone’s
leadership – especially France – the avoidance of default and the
preservation of the euro’s integrity was a core goal of the seemingly
endless series of rescue plans and negotiations to keep Greece from
crumbling under the weight of its public debt.
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