Faction of Greece's Syriza weaves scheme for default, return to Drachma

``A wing of Greece's anti-austerity Syriza party is eyeing a plan to default on government debt and replace the euro with its own national currency in case negotiations on a bailout with its creditors fail, media have reported. The plan envisions a default similar to the one implemented by Iceland during the 2008 financial crisis, along with the nationalization of the Greek banking system. The party faction considers the continuing negotiations with European creditors useless, The Telegraph reported Monday citing sources familiar with the matter.''