'Greece remaining in EU is in everyone’s interest'

Congratulating the people of Greece on conducting elections successfully, the US has said it is in everyone’s interest that the country remains in “the euro area while respecting a commitment to reform’’.

“We congratulate the Greek people on conducting their elections in this difficult time. We hope this election will lead quickly to the formation of a new government that can make timely progress on the economic challenges facing the Greek people,” the White House Press Secretary, Mr Jay Carney, had said in a statement yesterday.

“As President Obama and other world leaders have said, we believe that it is in all our interests for Greece to remain in the euro area while respecting its commitment to reform,” he said.

“Going forward, we will engage Greece in the spirit of partnership that has guided our alliance and the friendship between our people,” he said.

The New York Times in a news report from Athens said that the parliamentary elections was widely seen as a last chance for Greece to remain in the Euro Zone and the results had an early rallying effect on world markets.

Investors across the globe may find some initial relief in the elections, but the ultimate market reaction is hard to predict because political conditions in the recession-ravaged country remain volatile, another report in CNN said.

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