Euro-area mem­ber­ship.

Kathimerini English - - Focus -

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.

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