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Juncker warns Greece not to quit euro zone: paper

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VIENNA | Sat Jun 16, 2012 5:04am EDT

VIENNA (Reuters) - Eurogroup head Jean-Claude Juncker warned Greeks not to turn their backs on the euro, saying in a newspaper interview that a win by anti-bailout radical leftists in a vote on Sunday would have "unforeseeable" consequences for the monetary union.

The radical leftist SYRIZA party is racing neck-and-neck with the conservative New Democracy party ahead of the election, which could decide if Greece stays in the euro zone and spread turmoil across global financial markets.

SYRIZA leader Alexis Tsipras is threatening to tear up the punishing terms of the 130 billion euro ($164.12 billion) bailout that is keeping Greece from bankruptcy.

"If the radical left wins - which cannot be ruled out - the consequences for the currency union are unforeseeable," Juncker, head of the group of euro zone finance ministers, told Austrian paper Kurier.

"We will have to speak to any government. I can only warn everyone against leaving the currency union. The internal cohesion of the euro zone would be in danger."

In addition to the economic and social consequences for Greece itself, an exit would damage the entire currency union, he said, adding: "This has to be avoided. This would send a devastating signal. The Greeks must be aware of this."

Sunday's vote is a re-run of a May 6 election that produced a stalemate.

No matter who wins the repeat vote, Juncker said, European leaders would have to quickly address Greece's reform program with the country's new leadership. "A third election would not be a solution."

He made clear, however, that renegotiating the substance of the conditions for international aid to Athens was out of the question.

Juncker said he would spend Sunday evening in telephone contact with European Central Bank President Mario Draghi and EU Economic and Monetary Affairs Commissioner Olli Rehn.

(Reporting by Michael Shields; Editing by Alessandra Rizzo)

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Comments (2)
kostaskarag wrote:
Stop interfering with the internal affairs of our country, even during the election times, which is considered to be not only illegal but also immoral.

It is not your business what we decide at the very end…!!!

If we decide to have a 3rd election we shall have it (by the way i totally disagree with this outcome).

Finally yes we must negotiate the conditions. This is apparent for all the “bad countries” as you see them fiscally only….Otherwise everybody will have a problem (recent years we like to say globally etc etc, so everything interacts with everything & anyone even you could be at our position).

It is about time for countries & banks of some countries to profit on the work and lives of some other… because as we say in Greece, noone however rich is will take the money with him at his/her next life. Money is just a paper, a mean, a soul-less item.

We salute you from the Greece that deep down you are jealous of….
Greetings from sunny and beautiful Athens…

Jun 17, 2012 10:10am EDT  --  Report as abuse
Alvisedal wrote:
What I would ask is to be, finally, left alone to act and choose without every foreign dignitary constantly propagandising his view and position. This particular warning here is one day before the election for crying out loud!
Even the political parties within Greece are forebidden from making further comments 24 hours before the elections.
It has become quite annoying being constantly terrorised; it is undemocratic, unethical and simply obnoxious.

Jun 17, 2012 10:29am EDT  --  Report as abuse
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