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Greek debt agreement still possible after "No" vote in referendum: EC

Xinhua, July 6, 2015 Adjust font size:

It is still possible for Greece and the creditors to find an agreement on Greek debt issue even after Greek voters overwhelmingly rejected the creditors' offer in referendum, a senior European commission (EC) official said on Monday.

"EC takes note of referendum's result," said Valdis Dombrovskis, EC's Vice-President in charge of the Euro and Social Dialogue, adding that the "No" results widened the gap between Greece and the other Eurozone countries.

"In the Eurozone we have 19 democracies; we need a solution acceptable to all. 'No' makes this more difficult," he said to the reporters.

"If all sides work seriously it's possible to find an agreement even in this very complicated situation," the vice-president added.

Dombrovskis hinted that the EC was ready to renegotiate over the Greece debt issue.

"The Commission is ready to continue its work with Greece but to be clear; the Commission cannot negotiate a new programme without the mandate from the Eurogroup," he said.

The Eurogroup head Jeroen Dijsselbloem said late Sunday the Eurogroup would convene Tuesday discussing the state of play on Greece.

Meanwhile, Dombrovskis tried to assure that the stability of the Euro area is not in question, saying the euro area authorities stand ready to do whatever necessary to ensure financial stability of the bloc.

"We have everything we need to manage this situation," he said, mentioning the bank union to ensure the stability of the financial sector, the European Financial Stability mechanism to help the most vulnerable economies, a strong fiscal economic governance in the bloc, the European Central Banks to ensure stability and the European Court of Justice's recently confirmation for the outright monetary transactions. Endit