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Weidmann expects Greece to stay in eurozone

An exit by Greece from the eurozone would not solve the country's problems and may lead to pressure on other members to quit the currency, Bundesbank President Jens Weidmann told German newspaper Welt am Sonntag.

Solidarity in the European Union “has limits,” which is why the international aid to Greece is tied to certain conditions, the newspaper cited Weidmann as saying, according to a preview of a story to run in Welt am Sonntag on Sunday.

The governor of Germany’s central bank added that all 17 euro members are likely to keep the joint currency in coming years and that other countries may also sign up.

While the European Union’s rescue funds and loans “buy time,” they do not solve the problems behind the region’s debt crisis, Weidmann is quoted as saying.

The European Central Bank’s measures to help solve the crisis mean it sometimes moves in “new, and very uncertain, territory,” Weidmann said.

[Bloomberg]

ekathimerini.com , Saturday April 21, 2012 (11:53)  
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