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Is Leaving The Euro Zone Irrevocable?

Euro Photo

AFP Photo / Louisa Gouliamaki

 

In scouring the news the past few days, we came across an article posted on RT, discussing whether or not a member country of the EU (currently Greece) can leave at will.  It’s an interesting issue, and one that brings the following questions to mind:

  • Can a member country of the Euro Zone leave at will?
  • Are there mechanisms currently established to enable this?
  • How does a country actually leave the EU?
  • Are member countries, required to be members for life?
  • What are the penalties and consequences for leaving? Read more