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30 Jun 2015
‘Grexit can unfortunately no longer be ruled out’ – ECB’s Coeure
FXStreet (Mumbai) - The European Central Bank (ECB) executive board member Benoit Coeure said on Tuesday that Greece could leave the single currency bloc, although the central bank or other EU institutions did not want such an outcome.
Key Quotes:
"The exit of Greece from the euro area, which was a theoretical point, can unfortunately no longer be ruled out,"
"This is the result of the choice of the Greek government to put an end to the discussion with its creditors and to call a referendum, prompting the Euro group not to extend the second aid program."
On Sunday’s Greek referendum, Coeure noted, "If the response is 'yes,' I have no doubt about the fact that the authorities of the euro zone will find the means, under one form or another, to honor their commitments,"
"The question is political. The answer to this question belongs to the Greeks."
Key Quotes:
"The exit of Greece from the euro area, which was a theoretical point, can unfortunately no longer be ruled out,"
"This is the result of the choice of the Greek government to put an end to the discussion with its creditors and to call a referendum, prompting the Euro group not to extend the second aid program."
On Sunday’s Greek referendum, Coeure noted, "If the response is 'yes,' I have no doubt about the fact that the authorities of the euro zone will find the means, under one form or another, to honor their commitments,"
"The question is political. The answer to this question belongs to the Greeks."