hered to by all sides, I am confident it will work,” Schaeuble told reporters in Berlin. He referred to the Eurogroup agreement from May 2016 that debt relief should, as a matter of principle, be looked at from 2018 and if, contrary to expectations, it is needed, such measures could be introduced.
The likelihood of a country other than Greece leaving the European Union’s single currency area remains very low, but has the potential to increase materially this year given the rise of anti-EU political parties in the region, Moody’s Investors Service said in a report yesterday. “Aside from Greece, Moody’s believes that the likelihood of a country leaving the euro area remains very low,” said Colin Ellis, Moody’s chief credit officer for Europe, Middle East and Africa. “However, this probability could increase over coming months, depending on the results of upcoming elections.” Any exit from the European single currency would be an existential moment for the euro area: It would demonstrate conclusively that the currency union was not indivisible, Moody’s noted.