Greece ‘integral’ to the eurozone, say Sarkozy and Merkel
Baku, September 15 (AZERTAC). The leaders of Greece, France and Germany have said that Greece is an "integral" part of the eurozone.
It follows a telephone call between Greek Prime Minister George Papandreou, French President Nicolas Sarkozy and German Chancellor Angela Merkel.
Greece also reiterated that it was determined to meet all the deficit reductions plans it agreed to in exchange for its two bailouts.
Concerns continue that Greece will default on its debt.
The comments are aimed at calming markets that have seen turbulent trading in recent weeks over fears surrounding Greece`s finances.
This has also increased speculation that Greece may have to leave the 17-nation single currency zone.
Greek government spokesman Elias Mossialos said: "In the face of the extensive rumours of the last few days, it was stressed by all that Greece is an integral part of the eurozone."
Mrs. Merkel and Mr. Sarkozy said in a joint statement: "Putting into place commitments of the (bailout) programme is essential for the Greek economy to return to a path of lasting and balanced growth."
The European Union and the International Monetary Fund agreed in May of last year to give Greece 110bn euros ($151bn; £96bn) in emergency loans, which it is still receiving in tranches.
It was then agreed in July of this year that Greece would gain a second bailout fund of 109bn euros, but this still has to be ratified by the parliaments of a number of eurozone member states.
Greece is set to receive the next loan from its initial bailout later this month, but it will get this only if inspectors from the European Union, European Central Bank and International Monetary Fund agree that it is keeping up with its spending cut targets.
There are some fears that they may rule that Greece has fallen behind. Without this month`s loan, Greece will not be able to meet its debt payments by the middle of next month.
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