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M. Continuo

EU prepared for all scenarios after Greek vote - EU's Moscovici


    BRUSSELS (Reuters) - The European Commission is prepared for various scenarios for Greece after national elections on Jan 25 but it believes that an exit of Athens from the euro zone is unlikely, Economic and Financial Affairs Commissioner Pierre Moscovici said on Monday.

    "Euro zone integrity is not threatened, we don't fear what will happen in the Greek elections on Sunday. We are prepared for all kinds of scenarios in Greece," Moscovici told a seminar at the economic think-tank Bruegel.

    Greece's left-wing opposition Syriza party is leading in the polls and is running on a pledge to end austerity policies, reverse some reforms, stop privatisation and renegotiate the country's debt, mostly held by euro zone governments.

    The ruling coalition in Greece says such policies could lead to Greece exiting the euro zone, what markets have dubbed "Grexit".

    "Whatever is the choice of the Greek people, we have answers," Moscovici said. "We are not facing the danger of Grexit or any kind of danger."

    "The commitments of the Greek government are the commitments of the country and that pacta sunt servanda (agreements must be honoured)," he said.

    (Reporting By Jan Strupczewski; editing by Philip Blenkinsop)