Angela Merkel has insisted that she is confident Greece will be able to maintain its membership of the European single currency as she moved to distance herself from reports that she is willing to accept a Greek exit.
Speaking at a press conference in Downing Street, the German chancellor said that she has “always” supported Greek membership of the euro as she said she had “no doubt whatsoever” that Athens would uphold its commitments. Merkel also praised Greece for making sacrifices as it abides by the terms of its bailouts from other eurozone governments.
The Chancellor spoke out days after Der Spiegel reported that Merkel has changed her stance from 2012 when she said there was no alternative to Greek membership of the euro on the grounds that an exit could trigger a wider breakup of the single currency. Der Spiegel reported that Merkel and her finance minister Wolfgang Schauble are “no longer afraid that a Grexit could result in the collapse of the entire eurozone”.
Merkel said: “I think one has to tell the people and the financial markets that I, as German chancellor and also the federal republic of Germany’s government have always pursued a policy of Greece staying in the eurozone. The commitments we entered into between troika and Greece and Greece and the European member states were abided by and respected.
“Greece has actually made a lot of sacrifices for many, many people in Greece. These were very difficult years. We have come a long way and I have no doubt whatsoever in my mind that we will also be able to bring this to a successful conclusion – always guided by the maxim that, on the one hand, the Greeks have to do their own bit and, on the other hand, we have to show solidarity. This was a very successful concept that we have been pursuing and we are going to pursue this also in the future.”
Speculation has intensified about a possible Greek exit from the eurozone ahead of parliamentary elections on 25 January. Polls suggest that Alexis Tsipras, leader of the anti-austerity Syriza party, could win the election.
