EU says wants Greece in euro, must keep promises

May 24, 2012 |

Brussels

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European Union president Herman Van Rompuy said on Thursday that EU leaders wanted Greece to remain in the eurozone, but stressed that it must live up to its reform promises.

"We want Greece to remain in the euro area while respecting its commitments," said Van Rompuy after a late-night EU summit clouded by fears that the debt-wracked country could depart the 17-nation single currency area.

Van Rompuy said all EU leaders were ‘fully aware of the significant efforts already made by the Greek citizens’ following ‘considerable solidarity’ shown by eurozone partners and vowed to ensure that EU grants and other means of providing aid would be mobilised.

But he underlined: "Continuing the vital reforms to restore debt sustainability, foster private investment and reinforce its institutions is the best guarantee for a more prosperous future in the euro area.

"We expect that after the elections, the new Greek government will make that choice."

An earlier draft drawn up by eurozone officials had highlighted the need for ‘a sufficient parliamentary majority’ following the June 17 vote, but Van Rompuy made no reference to this.

European Commission head Jose Manuel Barroso added: "Let's wait for the people of Greece to have their say", but stressed, "we want Greece to remain in the euro area".

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