Reuters: Financial Services and Real Estate: HIGHLIGHTS-Euro zone finance ministers and officials

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HIGHLIGHTS-Euro zone finance ministers and officials May 14th 2012, 15:37 BRUSSELS | Mon May 14, 2012 11:37am EDT BRUSSELS May 14 (Reuters) - Euro zone finance ministers and officials meet in Brussels on Monday for talks expected to focus on the situation in Greece. Following are comments ahead of their talks: DUTCH FINANCE MINISTER JAN KEES DE JAGER ON GREEK COMMITMENTS: "Greece has no option but to reform and to repay (its debts) and if it doesn't do that, it will be a very serious problem, not just for Greece, but for everyone." "There is no room to soften the (second bailout) agreement, or to say 'we're going to reform a bit less or we could repay a bit less'. "If there are suggestions for an alternative (for Greece), then the (ECB/IMF) Troika must look into them. But the Greek agenda is but one: to reform. "And if the Greek people choose another agenda then we are going to have a big problem and we don't have the room to say 'well, don't worry'." ON POSSIBLE CONTAGION FROM A GREEK EXIT: "We have worked hard over the past half-year on reducing the risk from a possible problem in any one country (with the firewall). But I can say, I hope it is not necessary because (a euro exit) would be very painful for any country." "For Greece, it is all about meeting its commitments, and if it doesn't then they really have a big problem. I don't want to speculate but we have tried to work to overcome the (contagion) risks if a certain country has problems." BELGIAN FINANCE MINISTER STEVEN VANACKERE ON A GREEK EXIT FROM THE EURO: "There is nothing to be gained from a Greek euro exit. "There is little sense in speaking about situations that don't offer a solution for the real fundamental problem: that is one of supporting competitiveness and the economy. "I'm still convinced that the best way to do that is within the euro zone." AUSTRIAN FINANCE MINISTER MARIA FEKTER ON A GREEK EXIT FROM THE EURO: "You can't leave the euro zone. You can leave the leave the European Union, the contract has possibilities there. Once you left the European Union you also left the euro zone. "Greece would have to reapply and then we would have membership negotiations and look very closely whether Greece would be able to become a member at all." "We look much more closely than when they joined the euro." ON GREEK BAILOUT CONDITIONS: "Those who gave the money want the conditions to be met. You stick to contracts in the European Union." ON SPANISH REFORMS: "Spain is finalising a large reform package regarding its banks and we welcome that." SPANISH ECONOMY MINISTER LUIS DE GUINDOS ON GREECE'S COMMITMENTS AND PLACE IN THE EURO ZONE: "Europe is living complicated times." "Greece must take the decisions it has agreed to take. We need to find solutions and offer support. Greece needs to take a series of measures and the political uncertainty is impeding it from taking those measures and that is weighing on (capital) markets." "I don't want to talk about a possible exit for Greece. It has commitments and independent of who is in government, the outcome of its elections, it must respond." "I don't want to talk about a Greek exit or an exit by any other country because that would be a failure for everyone." ON SPANISH BANKING AND FISCAL MEASURES: "Spain has taken all the appropriate measures... to do what we have to do and return to stability and growth. "Spain has taken measures, implemented a very deep banking clean-up, to improve our fiscal situation. What we need now is the cooperation of all the euro zone." GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE ON SITUATION FACING THE GREEK PEOPLE: "It is undisputed that the Greek people have to suffer from the consequences of decades of neglect. There is no easy path for Greece whatever the result." "It is not about being generous with regards to Greece, it is about what is defensible and credible from an economic point of view." LUXEMBOURG'S FINANCE MINISTER LUC FRIEDEN ON GREEK BAILOUT: "If Greece needs help from outside, the conditions have to be met. All political parties in Greece know that." "We have an agreement with the Hellenic Republic, not one political party. And therefore I am confident that also the next government will fully comply with this." IRISH FINANCE MINISTER MICHAEL NOONAN ON GREEK POLITICAL SITUATION AND BAILOUT: "Elections can draw strange results at times, and then the political parties have an obligation to form a government. "So I'd encourage them to form a government that's pledged and entered into the programme with whatever variations they think are necessary." ON PROSPECT OF GREECE LEAVING EURO: "We are not planning a Greek exit, that's not our business. My view is that Greece should continue to stay in the euro, and any support I can give them at the meetings over the next two days to achieve that objective I will do so. "But they have to set their own house in order. And when you analyse it, their problem is not really economic or fiscal at present. But the immediate problem in Greece, in Athens is a democratic problem... "...There has been an election and so far they haven't been able to negotiate a government arising from the election. "I don't think a new election helps... The elements are there now, and what happens in Europe usually, even more so than in Ireland, right across Europe, coalitions are the norm. They are negotiated after elections..." (Reporting by Robert-Jan Bartunek, Jan Strupczewski and Annika Breidthardt; editing by Rex Merrifield) Link this Share this Digg this Email Reprints

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