The eurozone crisis shows no sign of easing. While it is likely that the euro and European Economic and Monetary Union will survive, one or more countries may abandon the euro, with or without also leaving the European Union. Some commentators continue to predict the collapse of the entire eurozone as a single currency area.
The economic effects of a country leaving the eurozone are unpredictable, both for that country and for those countries keeping the euro. One widely held expectation, however, is that the new national currency of a weak departing state may depreciate rapidly against the euro and other currencies.
This guide from Field Fisher Waterhouse provides detailed analysis and guidance on the legal principles that may apply should a country leave the eurozone and how those principles may apply to various types of finance arrangements.
For the full analysis, click 'View Briefing'.