EU Commissioner Moscovici: Greece Needs the Euro and the Euro Needs Greece [Video]

A clear message regarding the preferences of the European Commission on political forces pursuing reforms and Greece remaining in the Eurozone, expressed in a press conference the European Union Commissioner for Economic and Monetary Affairs, Pierre Moscovici, in the light of his two-day visit in the Greek capital and his meeting with the country’s Prime Minister, Antonis Samaras.

Answering a barrage of questions about the political situation in Greece, Moscovici repeated once again that internal political issues do not concern him, although he highlighted that the EU Commissioners “respect the democratic choices of each country, the markets do not like political instability, but we have our preferences. Our preference is the Eurozone’s integrity and the continuation of the reforms.” The French Commissioner was also asked about the Greek public debt and he stressed that “it is not reasonable for someone to say that a large debt cannot be repaid, this is bankruptcy.”

Moscovici underlined that the European Commission’s goal is the completion of the Greek program within the two-month extension that has been given and move on to the next phase. To do this, he said, three steps are required: First, complete the evaluation – at this point he emphasized that reforms should be made for example in the labor market, while clearly said that “there is financial gap to be covered.” The second step is the completion of the program and the Troika’s departure from Greece. The last step will be  the precautionary credit line (ECCL) involving the International Monetary Fund (IMF).

Once again, the French Commissioner praised the efforts made by Greece in recent years and acknowledged the great sacrifices the Greek citizens have made, but, as he said, these sacrifices are paying off and should be vested with the Greek program’s completion.

Asked why he decided not to meet with main opposition SYRIZA leader Alexis Tsipras, as the country is in the midst of political developments, Moscovici replied that “this is a working visit and we work with the legally elected government of Greece. Mr. Tsipras is welcome to meet me in Brussels in the near future.”

As he also noted in the press conference “I and (the President of the European Commission) Jean-Claude Juncker remain strong allies of Greece.” Furthermore, he underlined that “Greece needs the Euro and the Euro needs Greece.”