Juncker: Greece will not be “abandoned”

23 March 2010

Greece will not be “abandoned” by the countries of the eurozone, the chairman of the Eurogroup has claimed.

In a speech to the European Parliament, Jean-Claude Juncker was quoted by Reuters as saying : “Greece will not be abandoned if we see that Greece needs eurozone assistance. We will not abandon Greece."

"I am very much against having a solution whereby only the International Monetary Fund (IMF) would try to solve the problems of Greece ... I cannot ignore the fact that there are some reasons why the IMF should be included in the solution but it should be done on the basis of European rules."

The politician stated that bilateral loans as part of a co-ordinated effort from the eurozone members would be best for the struggling state.

Meanwhile, a report from the Bank of Greece has forecast a two per cent dip in the country’s economic output during 2010.

The figure is greater than the government’s forecast, which stated that the contraction would be between 1.2 and 1.7 per cent.

By Jim Ottewill

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development