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G8 Wants Greece to Remain in Eurozone

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The leaders of the G8 nations meeting at Camp David on Saturday agreed that Greece should still be member of the European Union and welcomed EU efforts to solve debt crisis problems.

The leaders of the G8 nations meeting at Camp David on Saturday agreed that Greece should still be member of the European Union and welcomed EU efforts to solve debt crisis problems.

G8 said in a report concerning global economy that strong and united eurozone was important for global stability and economic recovery, and the group reaffirms its commitment to Greece remained in the euro area.

Greece is trying to avoid default and withdrawal from the eurozone by implementing an austerity program in exchange for multi-billion-dollar loans from the EU and International Monetary Fund.

Athens is planning further austerity measures to save some $33 billion through 2015. The country's total debt has ballooned to $490 billion.

"Greece's withdrawal [from the EU] is a bad scenario. We need Greece to stay in eurozone but it should implement responsible policy," Arkady Dvorkovich, Russian Sherpa at the summit meeting, told reporters.

 

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