| UNITED NATIONS
UNITED NATIONS May 17 The European Union said
it will honor its commitments to Greece in an effort to make
sure it remains within the euro area but said Athens too must
meet its obligations to the EU, the head of the head of the
European Commission said on Thursday.
"As far as Greece is concerned, I would like to reaffirm
very clearly that we want Greece to stay in the euro area. And
the European Union will do all it takes to ensure it," EC
President Jose Manuel Barroso said in prepared remarks to the
Barroso made reference to upcoming Greek elections after
attempts to form a government failed following an inconclusive
vote on May 6. New elections are set for June 17 in which rising
leftist leader of the SYRIZA party, 37-year-old Alexis Tsipras,
is calling for an end to "barbaric" austerity policies he said
were bankrupting the nation.
"We will honour our commitments toward Greece and we expect
the Greek government - current and future - to fulfill jointly
agreed conditions for financial assistance," Barroso said.
Barroso said that while the EU respects the will of the
Greek people and their vote, it also must bear in mind the will
of the 16 other euro area nations that have agreed on conditions
for giving Greece financial assistance.
Greece's long-running economic crisis turned into a full
political crisis after parties opposed to the terms of a
130-billion-euro ($168 billion) bailout made strong gains in the
May 6 vote, leaving the country without a government and raising
the chances that it would renege on terms of the deal.
Barroso is taking part in the United Nations General
Assembly High-Level Thematic Debate on the State of the World
Economy and Finance in 2012. It is bringing together high level
ministers, mainly from emerging market nations in Europe, Middle
East, Africa and Latin America.