The European Central Bank executive board member Benoit Coeuré stressed that the possibility of a “Grexit” is not a working hypothesis and that “a lot of work” needs to be done in Greece.
Mr. Coeuré told French news agency AFP that although the overwhelming majority of the Greek people are in favor of the euro, the Greek government has to take the necessary measures in order for this to be possible.
The negotiations between the two sides are difficult and slow, with the French official noting that significant differences persist on a number of issues. The ECB board member was concerned that time for a Greek solution was quickly running out.
Dombrovskis not pleased with progress of talks
Meanwhile, the VP of the European Commission Valdis Dombrovskis told German television network ARD that he does not expect an agreement in April and that the talks will most likely continue in May. Mr. Dombrovskis commented that the progress of the talks was not satisfactory and underlined the importance of both sides focusing on their commitments.
