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European Commission Vice-President: Grexit the worst case scenario

Even though the European Commission (EC) has discussed a number of scenarios for solving the Greek crisis, leaving the eurozone would be the worst decision not only for Greece, but for the whole monetary union, Valdis Dombrovskis, European Commissioner for the Euro and Social Dialogue told Latvian Television in an interview to Latvian Television late on June 9.

He stressed that the eurozone countries had decided back in 2012 to review the conditions of Greece's debt once the second funding program has been completed.

Even though the program did not end successfully, Dombrovskis thinks that the euro countries can still review the conditions of the agreements.

He said that, economically speaking, Grexit is the worst case scenario both for the eurozone countries and Greece. Dombrovskis said that what happens next depends on Greece's ability to prepare a convincing reform plan.

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