EU wants Greece to remain in eurozone

 

Xinhua, May 24, 2012

European Union (EU) leaders early Thursday expressed their "strong desire" to keep debt-laden Greece in the euro area while urging the country to maintain its commitment to austerity and structural reforms.

European Council President Herman Van Rompuy

"We want Greece to remain in the euro area while respecting its commitments," European Council President Herman Van Rompuy said at a press conference after an informal dinner meeting of EU leaders which lasted more than five hours.

The remarks came at a highly sensitive time when volatile political situations in Greece had raised the risks of a Greek exit from the single currency zone.

While "fully aware of the significant efforts" made by the Greeks, the EU leaders said continuing austerity measures and structural reforms was "the best guarantee for a more prosperous future in the euro area," according to a joint statement released after the meeting.

Van Rompuy also sounded an accommodating note by promising more financial support to Greece. "We will ensure that European structural funds and instruments are mobilized to bring Greece on a path towards growth and job creation," he told reporters.