ECB official: Greece should remain in euro

Author: Associated Press All articles by this author

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Aug. 20, 2012 10:56
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In this Sept. 2, 2009 file picture the Euro sculpture stans in front of the European Central Bank ECB in Frankfurt, central Germany. Demand for loans from business and consumers remains weak in Europe in the face of the continent's debt crisis, a closely watched European Central Bank survey showed Wednesday July 25, 2012.
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BERLIN— A top European Central Bank official says Greece should remain in the eurozone — arguing that, though an exit would be manageable, it would be very costly and push up unemployment in Europe. 

The comments by ECB executive board member Joerg Asmussen came ahead of Monday talks in Berlin between the German and Greek foreign ministers. Greek Prime Minister Antonis Samaras visits German Chancellor Angela Merkel on Friday.

German officials and lawmakers are making clear they have no appetite for granting Greece more time to comply with the terms of its rescue packages or other concessions.

Asmussen was quoted as telling the daily Berliner Zeitung it's up to Greece to secure its future in the euro and cautioned that a Greek exit "would not be as orderly as some imagine." 


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