Greece Leaving The Eurozone Would be a Disaster, There is No Plan B

All eyes is on Greece, The prospect of Greece leaving the Eurozone would be a disaster, The European Union Commission needs Greece to stay in the Eurozone and is not auditing an 'Plan B' on the nation's way out from the financial union, EU Commissioner Pierre Moscovici said Monday in a TV interview.

"I banned actually auditing such an arrangement, there is no plan B. For the most part when there is a Plan B, it implies we don't have confidence in the Plan A any longer," Mr. Moscovici said, in a meeting with French TV station France 2.

As reported from WSJ, Mr. Moscovici made those remarks two days after the Greek government hit an arrangement with its accomplices on a four-month expansion of its bailout program that was because of run out on Feb. 28 following quite a while of strained arrangements.

Under the assention, Greece needs to present Monday a rundown of plan cuts and financial redesigns, which needs to pass the examination of the administrators of the bailout, the European Commission, the European Central Bank and the International Monetary Fund.

source: Inti Landauro WSJ