EU chief says Greek membership of euro 'irreversible'
(MADRID) - Greece's membership of the eurozone is "irreversible" European Union president Herman Van Rompuy said Tuesday during a visit to Spain to discuss the eurozone crisis.
"Let there be no doubt the euro is irreversible and Greece's presence in the euro as well," Van Rompuy told a joint news conference in Madrid with Spanish Prime Minister Mariano Rajoy.
"It is only by adopting strong measures by each individual member state and strong actions collectively that we can put this crisis behind us," Van Rompuy said after talks with the Spanish leader.
Rajoy said a Greek exit would be a setback for the region. "If Greece leaves or anyone leaves the eurozone it would be a collective failure of Europe," he said.
Greek Prime Minister Antonis Samaras warned last week his country's exit from the euro would start a devastating domino effect that would hit other members of the common currency.
In an effort to keep to its rescue package with international creditors, Greece has committed to slashing another 11.5 billion euros ($14.2 billion) from spending over two years from 2013.
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