BERLIN: Euro zone finance ministers' group chief Jean-Claude Juncker has said a Greek exit from the euro zone would be "manageable" but not "desirable", according to an interview published yesterday.
"The way things look now, it would be a manageable process," he said. "That's not to say it would be a desirable occurrence because it would be linked to considerable risks, above all for the average person in Greece."
Struggling with a fifth year of continuous recession, Greece has fallen behind in the implementation of structural reforms that are part of the EU-IMF bailout packages which are keeping its economy afloat.
German Economy Minister Philipp Roesler in late July voiced serious doubts about whether debt-mired Greece would be able to stay in the eurozone, saying the "horror" of a potential exit had worn off.
Roesler said that Athens' partners would wait for the progress report from the European Union, International Monetary Fund and the European Central Bank.
"Nevertheless I have to say I am more than sceptical," said Roesler.
The Greek government has to cut 11.5 billion euros ($14.3bn) off expenditure over the next two years in order to unlock the next instalment of its 130-billion-euro bailout package - the second for the cash-strapped country in two years.