Greece is within the euro zone and there are instruments in place to ensure that, the European Union's executive arm said on Thursday, adding that it considered this was the only option on the table.
Greece's government was on the brink of collapse on Thursday, casting doubt on plans to hold a referendum on staying in the euro zone, as European leaders contemplated a Greek exit to preserve the single currency. Prime Minister George Papandreou chaired an emergency cabinet meeting in Athens, with his finance minister in revolt against a plebiscite, after the leaders of France and Germany gave Greeks an ultimatum to make up their minds.
French President Nicolas Sarkozy and German Chancellor Angela Merkel told Papandreou at a meeting in Cannes on Wednesday that Athens would not receive a cent more in aid until it votes to meet its commitments to the euro zone. Greece was due a vital 8 billion euros installment this month.
For more: Greece staying in euro zone is only option now - EU Commission | Reuters
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