Juncker says Greek debt default not ruled out

21st July 2011, Comments 0 comments

Eurogroup chairman Jean-Claude Juncker said Thursday that eurozone leaders would not rule out a Greek debt default but that everything should be done to prevent it.

Juncker also insisted that the euro was "not in danger" as he arrived for an emergency eurozone summit in Brussels aimed at reaching a deal on a second bailout of Greece.

When asked if a Greek default was possible, Juncker said: "We cannot exclude any possibility and everything should be done to prevent it."

Juncker said the eurozone needed to reach a "global solution."

He also welcomed an agreement on the Greek bailout reached between German Chancellor Angela Merkel and French President Nicolas Sarkozy ahead of the summit.

"I think it is useful that the French and the Germans were able to accommodate their views," Juncker said. "This makes the decision-process today of course easier."

© 2011 AFP

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