Greece to exit eurozone? Not so, says EC

The Greek government and European Commission leaders are denying a report that Greece is considering exiting the eurozone, and reverting to its own currency.

The Greek government and European Commission leaders are denying a report that Greece is considering exiting the eurozone, and reverting to its own currency.

Citing German government sources, the German magazine Der Spiegel Online says that Greece, faced with daily protests and an economy in crisis, is considering a return to its own currency.

The euro fell by about .9% against the dollar today after the report.

Speculation of a possible Greek debt restructuring has rattled through the markets for a number of weeks, with European officials consistently denying that a restructuring is on the cards.

The Spiegel Online report is being met with some scepticism this evening.

The report said that European Commission leaders were to hold a crisis meeting tonight to discuss the Greek situation, but the President of the European Council has said no such meeting is taking place tonight or over the weekend, and called the reports of a Greece meeting "totally wrong."

The Greek Government has also denied the reports.

Greece was the first of three eurozone countries to require a bailout from the EU and IMF, with Ireland and now Portugal following suit.

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