European Commission says Grexit cannot be ruled out

Brussels, July 8: At the end of a Eurogroup summit, European Commission President Jean-Claude Juncker said Grexit cannot be ruled out though he does not want Greece to leave the Eurozone.

"Friday morning will be the last moment," Juncker said on Tuesday night, setting a deadline for the Greek government to present "credible and comprehensive" proposals to move forward, Xinhua reported.

The European Union has called a 28-member state summit on Sunday, signalling the bloc already has "a Grexit scenario prepared in detail".

We have a humanitarian plan if needed, he said.

"I am strongly against Grexit but I cannot prevent it if (the) Greek government does not do what is asked of it," Juncker told reporters.

IANS