Grexit as a Challenge to the European Integrity

The paper analyzes the prospect of Greece exit know as “Grexit” from EU, whereas the Treaties have a specific legal regime on withdrawing – Article 50 TEU which was added to the Treaties by the Treaty of Lisbon. It confirms the possibility to leave the EU that many (but not all) legal observers believed existed beforehand. No fully-fledged Member State has in fact left the EU before or after the entry into force of the Treaty of Lisbon, although some parts of Member States have done so. Before the Treaty of Lisbon, this was accomplished by means of Treaty amendment. One of the important question is whether would it be possible for Greece to withdraw a notification to leave the EU? In the article an argument will be raised that other Member States and the EU institutions are arguably legally obliged to refuse debt relief for Greece, in accordance with the Treaties’ no bail-out rule