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Constancio Says Greek Default Doesn’t Mean Automatic Euro Exit

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Greek Debt Deal: A New May Deadline?

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European Central Bank Vice President Vitor Constancio said Greece might not have to leave the euro even if it defaults on its debt.

“We are convinced in the ECB that there will be no Greek exit,” Constancio said at the European parliament in Brussels on Monday. “The Treaty does not foresee that a country can be formally, legally expelled from the euro. So, if anything, some choice of that nature would have to be taken by the Greek government, not by us.”