As Greece’s political parties struggled to form a government 10 days after the inconclusive Parliamentary election, the Euro Zone finance ministers have rejected calls for the debt-ridden nation’s exit from the single currency.
“It is our unshakable desire to keep Greece in the euro area. We will do everything possible to this effect,” Mr Jean-Claude Juncker, Luxembourg’s Prime Minister and Chairman of the 17-nation euro group said on Monday night after a meeting of the finance ministers in Brussels.
“Greece’s exit from the euro was not a subject of discussion and absolutely no one argued in that direction,” Mr Juncker told the press.
However, the ministers demanded that a new government in Greece must fulfil the austerity measures and reforms agreed by the former government in return for the financial bailout from the European Union and the International Monetary Fund.
“This is not the time to slacken the efforts to implement the reforms,” Mr Juncker said.
Meanwhile, in Athens, President Mr Karolos Papoulias has focused his efforts to form a government of technocrats after a series of meetings with the leaders of the main political parties failed to produce an agreement to form a new government.
If this last-ditch attempt fails, Greece will be heading towards fresh elections by the middle of next month and a long period of political instability.