EU urges Greece to stay in eurozone

Amid concerns over a Greek exit from the euorozone, European Council President Herman Van Rompuy said on Wednesday that the EU seeks Greece to stay in the euro area and continuing “vital reforms” are essential for the country to overcome its economic problems.

Herman Van Rompuy made the remarks at an informal EU summit in the Belgium capital of Brussel, saying “We are fully aware of the significant efforts already made by the Greek citizens.”

“The eurozone has shown considerable solidarity having already disbursed, together with the IMF (International Monetary Fund) nearly 150bn euros in support of Greece since 2010.”

He said the EU would take action to return Greece to economic growth and job creation.

Rompuy added “continuing vital reforms” were “the best guarantee for a more prosperous future in the euro area”.

Referring to Greece’s forthcoming elections in June he said, “We expect that after the elections the new Greek government will make that choice.”

French incoming President Francois Hollande said on Wednesday that he would do everything to keep Greece in the eurozone.

Greece has been in political turmoil since the country’s parliamentary elections on May 6 failed to give any of the participating parties an absolute majority. The political crisis has shaken financial markets and pushed experts into questioning the country’s ability to stay in the eurozone.

Leaders of 27 EU countries on Wednesday met to find ways to contain the crisis, and prepare contingency plans in case Greece quits the single currency area.

The leaders concluded their latest summit early Thursday with few concrete steps to fix the financial crisis.

EU leaders have held several similar meetings over the past months but the crisis in the eurozone keeps worsening.

MSH/JR

Views: 0

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes