Luxembourg's Juncker says Greek eurozone exit 'will not happen'
Greek Prime Minister Lucas Papademos, left, speaks with Luxembourg's Prime Minister Jean-Claude Juncker, centre, and Greek Finance Minister Evangelos Venizelos, right, during a round table meeting of eurozone finance ministers at the EU Council building in Brussels on Monday, Feb. 20, 2012. (AP / Yves Logghe)
The Associated Press
Published Saturday, August 18, 2012 9:05AM EDT
Last Updated Saturday, August 18, 2012 9:28AM EDT
VIENNA -- Luxembourg's prime minister says Greece won't leave the 17-nation eurozone -- arguing that an exit wouldn't be politically feasible and would carry unforeseeable risks.
Greece has been kept afloat by international loans but fallen behind on implementing reforms and austerity measures demanded in exchange, feeding speculation about a possible euro exit.
But Luxembourg's Jean-Claude Juncker, who also chairs eurozone finance ministers' meetings, was quoted Saturday as saying in an interview with Austria's Tiroler Tageszeitung newspaper: "It will not happen -- unless Greece violates all the conditions and keeps to no agreements."
Juncker said he assumes Greece will redouble efforts to reach its targets -- so "there is no reason to assume that this exit scenario can become relevant." He said an exit would be "technically" but not "politically" feasible.