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Monday, March 9, 2015

German Chancellor Will Not Rule Out Grexit Scenario

Keeping Greece in the Eurozone is the European leaders’ political objective at the moment, stated German chancellor, Angela Merkel during an interview in Japan on Monday. A few hours before the Eurogroup meeting about Greece in Brussels Angela Merkel said that Europe is facing a major problem in agreeing to provide financial aid to Greece, in order to keep the country in the Eurozone. When asked about whether she has excluded the possible Grexit scenario, as Commission President, Jean-Claude Juncker said over the weekend, the German Chancellor said: “I have said time and time again, and I can say it again here, our political goal is to keep Greece in the Eurozone. We have been working on this for many years.” However, she pointed out, that “there are two sides to this coin.” According to Merkel, “on the one hand solidarity from European partners, and on the other the readiness to implement reforms and other commitments at home. On this, we clearly have a very difficult path ahead of us.” Over the weekend Jean-Claude Juncker called on all members of the European Union to understand the dire condition Greek society is in. “What concerns me is that not all members of the EU understand the seriousness of the situation in Greece,” he said to the German newspaper Die Welt. Juncker stressed that Greece will not exit the euro zone and that such scenarios damage the reputation of the common European currency.


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