Barroso: Greece will remain in the Eurozone

http://english.aljazeera.net/news/europe/2011/09/201192844432794178.html

Greece will remain in the eurozone but must meet its reform commitments in full, Jose Manuel Barroso, the head of the European Commission, has said.

In an annual address to the European parliament on Wednesday, Barroso countered persistent talk of Athens leaving the 17-nation bloc, saying: “Greece is, and will remain, a member of the euro area.”

But “Greece must implement its commitments in full and on time”, he stressed, pledging also that Europe would not let Athens down.

“In turn, the other Euro area members have pledged to support Greece and each other.”

International auditors were reported to be heading to the Mediterranean state to scrutinise new austerity measures they must endorse for Athens to meet its debt obligations.

The “troika” audit team from the European Commission, European Central Bank (ECB) and IMF is expected to begin arriving on Wednesday and launch talks the day after on the Greek government’s plan to deepen budget cuts and raise new taxes.

This will allow Athens to meet its commitments under a second aid programme that EU leaders agreed in principle in July that also touched off a new cycle of strikes and protests.

However, Angela Merkel, the German chancellor, has suggested that parts of the new $148.6bn rescue package for the debt-laden country could be reopened, depending on the outcome of the troika’s audit.

“We have to wait and see what the troika … finds and what it will tell us [whether] we will have to renegotiate or not,” she told Greek state television NET, without elaborating.

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barroso the master elitist..pushing for more integration of the union..using the crisis to bring this about..who cares where greece is?..its going to default..you cant stop it..

401

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~ by seeker401 on September 30, 2011.