NEWS

Virtually no risk of Greek euro exit, EU’s Rehn says

The chance of a Greek euro exit has virtually disappeared, the EU’s Economic and Monetary Affairs Commissioner Olli Rehn said Tuesday, according to local media reports, expressing his satisfaction that Greece was gradually restoring its competitiveness.

Speaking from Brussels, Rehn warned that the eurozone is not yet out of the woods while expressing his concern about the bloc’s North-South divide, according to the same reports.

In an interview with the BBC on Tuesday, Greek Finance Minister Yannis Stournaras Finance Minister Yannis Stournaras said he was 100 percent certain sure that 2013 will be Greece’s last year of recession.

“Towards the last quarter of 2013, we are going to have recovery,” Stournaras said.

The probability of Greece leaving the euro – Grexit – is now very small,” he added.