Bloomberg reported that German Interior Minister Hans-Peter Friedrich has said that Greece would have a better chance of recovering its economy if it was to leave the euro. He is the first cabinet minister to call for Greece to leave the euro. More interesting was the point made by which basically said if Friedrich hasn’t resigned his position by Monday, then it looks to be the german position.

Whatever else happens, rest assured: if Hans-Peter Friedrich still has his job by Tuesday morning, Germany has a new -albeit unofficial – policy towards Greece in place.