Eurozone core meet in secret, but Greek exit from euro a ‘fantasy’

Monday, May 9, 2011
By Paul Martin

The meeting will cover ‘difficult issues’ for creditors

By LEIGH PHILLIPS
EUOBSERVER

BRUSSELS – Core Eurozone finance ministers are holding a secret meeting in Luxembourg to discuss “difficult issues”, including Greece’s ongoing troubles, but attendees will not be talking about a possible Greek exit from the eurozone.
The European Commission and the finance ministers of Germany, France, the Netherlands are in the Grand Duchy for a private chat about the “outstanding eurozone creditor issues with regard to the continuing problems in Greece,” a source familiar with the discussions told EUobserver.

Jean-Claude Juncker, the prime minister of Luxembourg of the eurogroup, the 17 countries that employ the single currency, is also there “despite the denials of his ministry,” the source continued.

Finland may also attend, but not Greece. The idea is to have a “smaller group” consider these matters privately, without the full eurogroup needing to attend.

In addition, the discussion extends to the sizeable presence of MPs in the new Finnish parliament who are reluctant to bail out Portugal and what is to be done. The question of who is to be the next president of the European Central Bank is on the brief agenda as well.

Spiegel Online had late Friday afternoon reported that the meeting was called to consider Greece leaving the euro.

The Rest…HERE

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