France refuses to see Greece leave euro zone – PM Valls

What will allow us to know if it stays or if it leaves, is the quality of negotiations that will follow.

France’s central bank chief on Wednesday said Greece will descend into “riots and chaos” if no debt deal is found soon, media reported.

Greek Prime Minister Alexis Tsipras is headed Tuesday to Brussels to negotiate a rescue deal with European lenders.

Mr. Sapin told reporters that he had a “feeling” that an accord was possible after a meeting with Greece’s newly appointed Finance Minister Euclid Tsakalotos.

“I share this point of view expressed by Mister Hollande and Mister Valls but there is a red line, which is that the compromise must not destroy the credibility of the 18 other member countries of the euro zone”, he said on TF1 television.

On Sunday, Greek’s voted in a referendum against the bailout terms demanded by the country’s creditors.

“There are those in the European Union who openly or otherwise campaign for Greece to exit from the eurozone”.

According to Valls, the ball is now in Greece’s court to propose new offers in a bid to reach “an agreement necessary first for Greece because its exit from the eurozone would plunge the Greek people into an intolerable situation”.

“The Greek economy is on the edge of catastrophe”.

Article 123 of the EU’s Lisbon Treaty prohibits monetary financing of government deficits which is regarded as inflationary.

European Council President Donald Tusk has called for a summit of eurozone leaders Tuesday to discuss the situation. We must try and find a solution.

In a series of tweets Monday, Dombrovskis also dismissed claims of threats to the eurozone’s stability.

“Weaken Greece and we are all weakened”. “”No” makes this more hard, need to work responsibly”, he added in another tweet.