Reuters
November 3, 2011
If Greece decided to leave the euro, it would also have to quit the European Union, according to the terms of the EU's treaties, the European Commission said on Thursday.
"The treaties indeed confirm what we have been saying here: the treaty doesn't foresee an exit from the euro zone without exiting the EU, so indeed that is the current situation," European Commission spokeswoman Karolina Kottova said.
The comment was in response to a question about the provisions the EU treaties make for a country to leave the euro, but the spokeswoman did not refer to a particular member state.
Greece's government is on the brink of collapse after Prime Minister George Papandreou shocked global policymakers and financial markets on Monday by proposing a national referendum on the country's bailout terms. Euro zone leaders made plain this would effectively be a referendum on the country's membership of the euro bloc.
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