Tuesday, May 15, 2012

Euro zone finance ministers dismiss Greek exit

Euro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and nonsense" on Monday, but said the country had to respect the terms of the bailout programme agreed with the EU and the International Monetary Fund.

Eurozone Crisis [Graph: Extranea ]
If Greece can form a government and that government signs up to the bailout agreement, then it's possible some of the targets in the programme could be softened, the chairman of the euro zone finance ministers, Jean-Claude Juncker, said.
"I don't envisage, not even for one second, Greece leaving the euro area. This is nonsense, this is propaganda," Juncker, who also serves as Luxembourg's prime minister, told reporters, dismissing those who threaten Greece with expulsion.
Read more: Money Control


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