European Parliament President Martin Schulz, a German socialist, was quite clear in comments to German radio over the weekend: if a “no” vote wins out in Sunday’s referendum then Greece would have to adopt another currency in any cash-for-reforms deal.
“Is Greece still in the euro after this referendum? That is certainly the case, but if they say ‘no’ they will have to introduce another currency after the referendum because the euro is not available as a means of payment,” he told Germany’s Deutschlandfunk radio in an interview broadcast Sunday and taped on Thursday.
“The moment someone introduces a new currency, they exit the euro zone. Those are the elements that give me some hope that the people will not vote ‘no’ today.”