Moscovici: There is no danger of Greece exiting the eurozone

There is no danger of Greece exiting the eurozone, Economic and Financial Affairs Commissioner Pierre Moscovici told a seminar at the economic think-tank Bruegel in Brussels on Monday.

Referring to Sunday’s general elections in Greece, he said that the Greek elections are a challenge but noted that no disaster is expected.

He said that the eurozone is prepared for all kinds of scenarios in Greece after the elections, adding that there is no danger of a Grexit and regardless of the election outcome there will be talks with the next government. He clarified, however, that the commitments undertaken by the outgoing government are the commitments of the country.

On the likelihood of a new extension to the Greek programme, the commissioner said that this will be clarified on the next day of the elections in Greece, at the Eurogroup meeting on January 26.

On a further restructuring of the Greek debt, Moscovici reminded that there are commitments undertaken by the Eurogroup and Greece that will be put on the negotiating table the day after the elections regardless of the outcome.

Europe will support Greece; we need a strong Greece in Europe, Moscovici underlined.