The eurozone is in danger of falling apart, Eurogroup chief Jean-Claude Juncker warned Monday, urging the Continent's leaders to use “all means at their disposal” to prevent a breakup of the common currency union.
“We have arrived at a decisive point... The world is talking about whether the eurozone will still exist in a few months,” Juncker, who is Luxembourg's prime minister, told Germany's Suddeutsche Zeitung.
“We must now make abundantly clear with all available means that we are firmly determined to guarantee the financial stability of the currency union,” said Juncker, adding that “there is no time to lose.”
His comments came as Germany's Finance Minister Wolfgang Schaeuble on Sunday ruled out any further concessions to debt-hit Greece, describing the current bail-out memorandum as “very accommodating.”
“I cannot see that there is any room left for further concessions. The problem did not arise because the program had faults, but rather because Greece did not implement it fully enough,” Schaeuble told Welt am Sonntag newspaper.
The three parties in Greece's conservative-led coalition government were to resume talks on Monday to decide on a major new austerity package demanded by rescue lenders as a condition for continued financing.