Grexit From Eurozone to Be Admission of Europe's Impotence - French PM

Greece's exit from the Eurozone will be an admission of impotence, French Prime Minister Manuel Valls said Wednesday.

MOSCOW (Sputnik) — France will do everything in its power to avoid this scenario, French Prime Minister Manuel Valls said Wednesday.

"France refuses that Greece leaves the eurozone… I do not want the disintegration of Europe. This would be a confession of helplessness," Waltz said in a speech in front of the National Assembly, broadcast by BFMTV.

The French prime minister stressed that a decision of the Greek issue was a resolution on "the fate of the whole of Europe."

Valls recalled that Greece has close relations with Turkey, Russia and the Balkans, relations that Europe must maintain.

Greece's overall debt stands at about $350 billion, of which $270 billion is owed to the European Central Bank, the International Monetary Fund and some Eurozone countries.

On Sunday, over 61 percent of the Greek public voted "no" in a referendum on the creditors' demands on spending cuts and tax increases in exchange for another loan, triggering renewed speculation about Greece’s possible exit from the Eurozone.