May 6, 2011 / 10:05 PM / 9 years ago

Greece leaving euro zone not discussed- Eurogroup's Juncker

LUXEMBOURG, May 6 (Reuters) - Finance ministers from Germany, France, Italy and Spain did not discuss Greece leaving the euro zone or the possibility of a Greek debt restructuring during a meeting in Luxembourg on Friday, Eurogroup Chairman Jean-Claude Juncker said.

The meeting of the euro zone’s four G20 members discussed G20 themes and related issues, including a broad discussion about Greece, Juncker told reporters after the gathering, but dismissed talk of a Greek restructuring or of Greece abandoning the euro zone as a “stupid idea” and mere “rumours”.

The meeting was attended by ECB President Jean-Claude Trichet and Olli Rehn, the European commissioner for economic and monetary affairs, Juncker said. He said Greece had been invited, but did not specify that it was represented.

German magazine Der Spiegel reported earlier that the meeting was to discuss the possibility, raised by Greece, of leaving the 17 member euro zone and readopting its own currency.

“We have not been discussing the exit of Greece from the euro area, this is a stupid idea, it is in no way, it is an avenue we would never take,” Juncker said.

“We don’t want to have the euro area exploding without reason. We were excluding the restructing option which is discussed heavily in certain quarters of the financial markets....”

He said talk of Greece needing a further adjustment programme would be discussed in detail at the next Eurogroup meeting in Brussels on May 16.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below