"Plan Z" is the name given to a 2012 plan to enable Greece to withdraw from the eurozone in the event of Greek bank collapse.
[20] It was drawn up in absolute secrecy by small teams totalling approximately two dozen officials at the European Commission (Brussels), the European Central Bank (Frankfurt) and the IMF (Washington).
[20] Those officials were headed by Jörg Asmussen (ECB), Thomas Wieser (Euro working group), Poul Thomsen (IMF) and Marco Buti (European Commission).
[20] To prevent premature disclosure no single document was created, no emails were exchanged, and no Greek officials were informed.
[20] The plan was based on the 2003 introduction of new dinars into Iraq by the Americans
[20] and would have required rebuilding the Greek economy and banking system
ab initio, including isolating Greek banks by disconnecting them from the
TARGET2 system, closing ATMs, and imposing capital and currency controls.
[20]