EU Rehn: Will Not Allow Greek Default

The EU's Implacable Rigor … EU Rehn: Will Not Allow Greek Default, Euro-Zone Exit ... The European Union will support Greece, but the debt-stricken country needs to do more to implement the promises it has made, the EU commissioner for economic and monetary affairs said Thursday. "An uncontrolled default or exit of Greece from the euro zone would cause enormous economic and social damage, not only to Greece but to the European Union as a whole, and have serious spillovers to the world economy," Olli Rehn said according to the text of his speech at the Peterson Institute in Washington. "We will not let this happen." – Wall Street Journal