France rules out euro exit for Greece

18 Oct, 2012

 

"We are determined to provide lasting solutions for the problems in the eurozone," Ayrault said in Singapore as European Union (EU) leaders prepared to meet in Brussels and Greeks went on strike against fresh austerity measures.

 

"This will require ruling out once and for all the possible exit of Greece from the eurozone, or of other countries (exiting)," added Ayrault, who was on an official visit to Singapore, Southeast Asia's financial capital.

 

"What is at stake is the stability of the economies, not just European economies but also global economies which are interlinked," he told a gathering of diplomats, academics and students.

 

"Europe is moving again. Nations are not going to disappear."

 

Ayrault spoke at the Lee Kuan Yew School of Public Policy, named after Singapore's founding leader, hours before EU leaders were to meet in Brussels in an effort to strengthen the bloc's shaky foundations.

 

With Spain edging closer to asking for what diplomats describe as a precautionary credit line after months of hesitation, the 27 members will meet for two days of talks free from the worst fears of previous meetings.

 

Ahead of the summit, thousands of Greeks staged a general strike against a new wave of imminent austerity cuts, the fourth such protest this year.

 

The protest has paralysed train and ferry traffic, disrupted flights and shut down public services as unions seek to send a message to the government that they will not tolerate a third straight year of cuts.

 

"France and its European partners are indeed determined to maintain the integrity of the eurozone and to restore growth," Ayrault said in his Singapore lecture, a platform often used by visiting leaders to address the Asian region.

 

Ayrault said the selection of the EU as this year's winner of the Nobel Peace Prize "should give us the energy and the impetus to face the new challenges."

 

"I would like to bring you a message of confidence for the future," Ayrault said.

Copyright AFP (Agence France-Presse), 2012

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