Tuesday, February 7, 2012

EU’s Barroso Says This Is the ‘Decisive Moment’ for Greece

Bloomberg
February 7, 2012

European Commission President Jose Barroso said this is the “decisive moment” for Greece and an agreement on a debt swap and second rescue package is close.

“We want Greece to remain in the euro,” Barroso said in Brussels today, after EU Digital Affairs Commissioner Neelie Kroes told Dutch newspaper De Volkskrant that there would be “absolutely no man overboard” if a country exited the euro.

“Maybe my wording isn’t entirely felicitous,” Kroes told De Volkskrant. “What is a man overboard? It’s being said that if you allow one country to exit or ask it to exit, then the whole structure collapses. But that just isn’t true.”

When asked about Kroes’s comments, commission spokesman Olivier Bailly said the EU’s position on Greece “has not changed and is very clear: we want Greece to remain in the euro area.”

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