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Grexit Is Unlikely, but EU Plans Include Humanitarian Aid Assistance

© AFP 2023 / Ina FassbenderBottles and cans of vodka lemon Grexit are displayed on June 23, 2015 in Hamm, western Germany
Bottles and cans of vodka lemon Grexit are displayed on June 23, 2015 in Hamm, western Germany - Sputnik International
Current EU negotiations with Greece will not likely result in the country exiting the Eurozone, but European leaders prepared humanitarian aid in the event of a Grexit, Luxembourg Ambassador to the United States Jean-Louis Wolzfeld told Sputnik.

WASHINGTON, July 11 (Sputnik) — Wolzfeld spoke on behalf of Luxembourg which assumed the presidency of the European Commission this year.

“There is a good chance there will be no Grexit. There is, of course, contingency planning, because you have to be able to see all eventualities.”

He added that Eurozone leaders “have foreseen humanitarian aid assistance in case this happens.”

Greece’s June 2015 default on a more than $1.5 billion debt to its creditors led to widespread, renewed concern that the country would leave or even be forced out of the Eurozone. Leaders in Brussels openly announced this week that they had made contingency plans in the event Greece did exit the Eurozone.

“We have to be prepared for the worst case scenario to at least have an idea of what we do.”

Greece is facing an overall debt of approximately $350 billion to its international creditors. European leaders are expected to meet in Brussels on Sunday to further work to a resolution of Greece’s debt crisis.

He warned that if Greece were to exit the Eurozone, “it will be absolutely abominable for the Greek people.”


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