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Greece an irreversible member of euro, says Juncker after Eurogroup nod

TAGS: Euro, Politics

European Commission President Jean-Claude Juncker said on Friday that Eurogroup’s approval of a third bailout for Greece means the country’s place in the Eurozone is not under threat.

“The message of today's Eurogroup is loud and clear: on this basis, Greece is and will irreversibly remain a member of the euro area,” he said in a statement.”

“And the European Commission will support Greece in developing a new and fair growth, jobs and investment perspective for its citizens."

Juncker admitted that the past six months had been “difficult.”

“They have tested the patience of policy-makers and they have tested the patience of our citizens even more,” he said. “Together, we have looked into the abyss.”

The Commission's vice president for the euro Valdis Dombrovskis said the agreement in Brussels on the 86-billion-euro package should put Greece on the road to recovery.

"Today's agreement will lift the uncertainty that has hung over the country and the euro area for too long,” he said. “With full ownership, commitment and implementation, this deal will create new jobs and restore economic growth.”

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