The European Union Commission wants Greece to stay in the eurozone and is not reviewing a ‘Plan B’ on the country’s exit from the monetary union, EU Commissioner Pierre Moscovici said Monday in a TV interview.
“I banned even reviewing such a plan, there is no plan B. Generally when there is a Plan B, it means we don’t believe in the Plan A anymore,” Mr. Moscovici said, in an interview with French TV station France 2.
Mr. Moscovici made those comments two days after the Greek government struck a deal with its partners on a four-month extension of its bailout program that was due to run out on Feb. 28 after weeks of tense negotiations. Under the agreement, Greece has to present Monday a list of budget cuts and economic overhauls, which has to pass the scrutiny of the supervisors of the bailout, the European Commission, the European Central Bank and the International Monetary Fund.
Mr. Moscovici said the Greek government must fulfill commitments made by the prior administration and make proposals that are financially sustainable.
Source: MarketWatch
