“Default” and “Grexit” are not synonymous. This was clarified today before the European Parliament by Vitor Constancio, number two of the European Central Bank, emphasizing that the eventual bankruptcy of Greece would not "automatically" imply the country's exit from the monetary union.
In any case, “at the ECB we are convinced that Greece will not leave the euro – he added -. Greek banks are solvent”, also because the Eurosystem has guaranteed them 110 billion euros, equal to 70% of the country's GDP. However, “they cannot promise that we will continue – continued Constancio -. There are rules and conditions that must be respected.
