Euro 'could survive Greece exit'

Tuesday, February 07, 2012 - 09:12 AM

Greece leaving the eurozone would not be a disaster for the other single members, a European Union commissioner said today.

Neelie Kroes, who is in charge of the EU’s digital agenda, told Dutch newspaper De Volkskrant: “It’s always said, if you let one nation go, or ask one to leave, the entire structure will collapse. But that is just not true.”

Ms Kroes’s comments are contrary to the European Commission’s official position.

Over the past two years, the EU’s executive arm has insisted that leaving the eurozone is impossible and that an exit by Greece could hurt other vulnerable countries like Portugal.

However, pressure on Athens has been growing as the government has so far failed to agree reforms demanded in return for a second, €130bn bailout.