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Grexit Out of Question – EU Commission Head

© REUTERS / Yves HermanEuropean Commission President Jean-Claude Juncker gives a statement while standing in front a giant Greek flag projected in the press room at the EU commission headquarters in Brussels, Belgium June 29, 2015
European Commission President Jean-Claude Juncker gives a statement while standing in front a giant Greek flag projected in the press room at the EU commission headquarters in Brussels, Belgium June 29, 2015 - Sputnik International
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A Grexit is out of the question now, European Commission President Jean-Claude Juncker said Thursday.

MOSCOW (Sputnik) — Last week, following lengthy talks, Eurozone finance ministers agreed on a new $95 billion bailout plan for Greece over the next three years, in exchange for economic reforms and additional austerity measures.

"It's my assumption that a Grexit is now definitely out of the question," Juncker told the Austrian Oe1 Radio.

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Earlier today, the Greek parliament approved a second set of reforms, required by the creditors as a precondition for a rescue loan. The first package was passed July 15.

Juncker stated that the success of the new bailout talks depends mostly on Greek efforts, stressing that if Athens fully delivered on the terms of the freshly-agreed third bailout package, a "lull" could be expected.

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Last month, the Greek government rejected a bailout deal proposed by its lenders, later announcing a referendum on the issue. The Eurogroup expressed disappointment at the move, which triggered speculation about Greece's possible exit from the Eurozone.

Greece, severely affected by bad loan terms and the aftereffects of the 2009 economic crisis, has received about $270 billion from its main lenders — the Eurozone nations, the International Monetary Fund (IMF) and the European Central Bank (ECB) under two bailout programs.

Last week, the European Commission gave Athens a short-term bridge loan worth some 7 billion euro ($7.6 billion), which Greece used on Monday to make payments to the ECB and the IMF.

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