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GREECE - France

France 'can’t take the risk' of Greek exit from euro, says PM Valls

The National Bank of Greece says the banks will remain closed Tuesday and Wednesday.
The National Bank of Greece says the banks will remain closed Tuesday and Wednesday. Jan van der Made

France “can’t take the risk” of Greece leaving the eurozone, French Prime Minister Manuel Valls said as eurozone leaders were to hold an emergency summit on Greeks' defiant 'No' vote to further austerity in a referendum.

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Leaving the euro would be dangerous "for economic reasons, but mainly for political reasons," Valls told French radio station RTL.

“France will do everything so that Greece remains in the eurozone because that's where it belongs, at the heart of the European project," he said.

The leaders of Germany and France presented a united front late Monday, calling on Greek Prime Minister Alexis Tsipras to make detailed proposals to revive bailout talks.

Valls’ comments, however, were in contrast to a statement from German Chancellor Angela Merkel that conditions for a new Greek rescue package "have not yet been met."

Citizens can only withdraw 60 euros a day.
Citizens can only withdraw 60 euros a day. Jan van der Made

European Commission head Jean-Claude Juncker, meanwhile, also said that a ‘Grexit’ must be avoided but warned against expecting a deal on Tuesday.

Greek Prime Minister Alexis Tsipras faces his 18 eurozone counterparts in Brussels Tuesday afternoon, while Greece's new finance minister Euclid Tsakalotos will make his first appearance following Yanis Varoufakis's resignation Monday.

The National Bank of Greece said Tuesday that Greek banks would remain closed on Tuesday and Wednesday with limits on daily withdrawals unchanged, as the European Central Bank maintained its liquidity assistance at the level set 26 June to keep the nation's lenders afloat.

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