German paper arguing for 5-year exit from the euro leaks

Frankfurter Allgemeine Sonntagszeitung and Reuters have seen a paper that offers two avenues for Greece 1) either tighter conditions binding the Greek government to its new promises or 2) a temporary exit from the euro.

A Greek official denied the plan but sources at Reuters said the paper was drawn up after discussions among conservative Chancellor Angela Merkel, her centre-left deputy Sigmar Gabriel and Finance Minister Wolfgang Schaeuble.

Reuters has the full story.