Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

DAVOS-EU's Almunia:no chance Greece default, euro zone exit

Source: Reuters - Fri 29th Jan 2010

The European Union monetary affairs chief said on Friday that there was no risk that Greece would default or leave the euro zone.

"No, Greece will not default. Please. In the euro area, the default does not exist," Monetary Affairs Commissioner Joaquin Almunia told Bloomberg TV.

Asked if there was any possibility Greece would leave the euro zone he said: "no chance." He continued, "Because it is crazy to try to solve the problems the Greek economy has outside the euro zone," he said.

Almunia said there was no special European plan for Greece, though regular monthly recommendations on the fiscal imbalances of Greece and other nations would be made next week. "It is a normal analytical document that is written every month," he said. "We have no plan B. Plan A is on the table," he said, referring to Greek plans for fiscal adjustment.

Comment on this Story

Be the first to comment on this Story !!

Recommended Items