Some central banks in Europe have started to consider plans for an eventual exit from the monetary union of countries and their currencies even if re-collapse of monetary union, said sources close to the situation for the Wall Street Journal (WSJ).
The first signs that central banks are considering how to revive the national currencies, which have dropped since the introduction into circulation of euro in January 2002, AFP quoted U.S. newspaper writes.

At least one central bank, that of Ireland, consider whether to provide additional access to printing in case you need to issue new notes to support a currency revived, WSJ sources said.


The first signs that central banks are considering how to revive the national currencies, which have dropped since the introduction into circulation of euro in January 2002, U.S. newspaper writes.

At least one central bank, that of Ireland, consider whether to provide additional access to printing in case you need to issue new notes to support a currency revived, WSJ sources said.

Plans are in the preliminary stages of banks, according to sources, and does not mean that they expect the euro area to be dismantled, writes AFP.

In Montenegro, the euro before the German mark was used as currency, central bank officials consider evntuale measures if euro disappears. Unilaterally adopted euro balcnic State, which uses no part of the monetary union.

"Montenegro would have a wide range of possibilities, from using foreign currencies in their coins," said central bank chief economist Nikola Fabris. A problem with the last version is that Montenegro does not have the ability to print money.

Majority of central banks in the euro area remains at least a limited capacity to print money. Even if the European Central Bank (ECB) is to establish the necessary monetary responasabilă is not responsible for printing banknotes. Such tasks divided ECB euro area central banks.

Countries have different arrangements for printing money. While some, like Greece and Ireland, have their own printing house for banknotes, others contracted private companies, writes AFP.

In recent weeks, officials of the Central Bank of Ireland have had preliminary discussions relating to possible acquisition of additional capabilities for printing, for cases where the eurozone breaks or Ireland is forced to return to the previous currency, the pound Irish, said sources close to the situation . Central bank chiefs considered reactivation of older printers or hiring a private company.

"I considered all kinds of situations that were not taken into account two months ago," said a person who has attended such a meeting. A spokesman for the Central Bank of Ireland declined to comment.

In Greece, the country considered to be the first on the list of those who could leave the euro zone, the central bank has called a printing IETA. Built in 1941, is equipped with modern printing, according to the bank site.

In Athens intense rumors circulated lately that the central bank would print the secret drachmas. Rumors, denied by officials, were held liable for heavy deposit withdrawals Greek banks.

A Greek bank official said that the institution does not examine ways to increase the ability to print money.

Euro banknotes are printed outside the monetary union, for example in the British town of Gateshead, the company De La Rue, which has a contract with the Bank of England to print £, writes AFP.

The possibility that De La Rue to experience strong demand for printing capacity of the euro area Member for dismantling monetary union has caused concern among some officials of the Bank of England, said a source. Bank of England was thus forced to consider measures to ensure that they maintain the ability to print pounds to the quoted source.

A spokesman for the Bank of England said that the institution is trying to secure additional access to the facilities at Rue with Gateshead.

Central bank officials in Bosnia-Herzegovina, a country that uses the convertible mark against the euro at a fixed course, could go to any strong currency is the euro area after the collapse, said a spokesman. Before the euro currency is linked in 2002, had a course set against the German mark.

Also, the currency of Latvia, across, is being fixed against the euro. The central bank does not expect the collapse of the euro area, but "could consider" fixing rate against the currency of another EU country, with "prudent fiscal policy" and strong links with the Latvian economy, said a spokesman for the Bank of Latvia .

The fact that central banks consider this possibility, unthinkable until fall, highlights how rapidly deteriorating situation. Central banks, political leaders, and investors have pinned his hopes on the meeting in Brussels on Thursday and Friday, to find solutions to sovereign debt crisis, which began two years ago in Europe.