Moscovici: EU won't keep Greece in eurozone at any price

"The Eurogroup has an overwhelming will to keep Greece in the euro zone. Financial accidents can happen. Our task, however, is not to organise this but to prevent it," Moscovici underlined.

He warned that a Greek exit would inflict great damage on the currency union. "Everyone would ask which member state is next?" he said. He did not rule out the possibility of concessions to Greece provided that Greece shows willingness to cooperate adding that it is clear that a third economic package will have to be different from the previous ones.

Moscovici also referred to the need to respect the fact that Greeks voted for a change in policy. Moreover, he cleared out that the Greeks will have to respect the fact that their country has committed to its European partners. As for war reparations, he said that the past should not be forgotten and we should be careful so that history is not repeated, but it is not right to make use of the past for political reasons in the present.