According to European Central Bank executive board member Benoit Coeuré, the ECB is not considering scenarios of a Greek departure from the Eurozone, in a interview to French periodical Alternatives Econimiques.
When asked whether the ECBs’ QE program helps safeguard the Eurozone against the departure of Eurozone member, Mr. Coeuré explained that the risk of the crisis spreading to other Eurozone members has been reduced, while arguing that the conditions are very different to what they were in 2012.
Furthermore, he underlined that the problem for countries such as Portugal, Spain and Ireland is not a potential departure from the euro, bur how to take advantage of the return to growth, in order to reduce unemployment. Mr. Coeuré noted that Greece was a “special case”, in light of the ongoing negotiations.
The ECB board member stressed that there are no plans being considered for a potential Grexit and that all efforts are towards renewing the relationship with Greece and setting new priorities, with respect to the common rights and obligations in the Eurozone.
