Economy World

Euro area: Informal summit meeting in Brussels (Greece)

Informal summit meeting in Brussels, the heads of state of the 27 member countries of the European Union said it was essential that Greece remains in the euro area.

“Today, the European Council sent a clear message to Greece: we want it to remain in the euro area, we support it, and obviously we expect that Greece meets itscommitments,” said European Commission President Jose Manuel Barroso.

“Pursue reforms crucial to return to debt sustainability, encourage private investmentand strengthening institutions (of Greece) are the best guarantee of a better future withinthe euro area. (…) We hope that after the elections, the new Greek government will make that choice “, for his part, said European Council President Herman Van Rompuy.

Greece is hit by a severe crisis and management at different levels evoke more andmore openly an output of countries in the euro area. British Prime Minister DavidCameron proposed on the eve of the summit to develop “a decisive plan of Greece”.Finance ministers of the euro area are hostile to them as to an output of Greece.

The political situation in the country prevents the formation of a coalition government.Legislative elections are scheduled June 17

Since 2010, the European Union and the International Monetary Fund has alreadyprovided nearly 150 billion euros in aid to Greece, which, in exchange of fiscal consolidation measures and structural reforms.

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