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EC ‘s Moscovici: ‘I only have a plan A – Greece in the euro zone’

FXStreet (Mumbai) - European Commissioner (EC) Pierre Moscovici said on Monday that the Greek government needs to urgently deliver a reform plan to remain in the 19-nation euro bloc.

Moscovici further explained that his job is not to prepare the exit of Greece from the euro zone but, on the contrary, to prevent such a scenario.

Key Quotes:

"I have no plan B, I only have a plan A, and plan A is Greece in the euro zone, but for Greece to stay in the euro zone we need reforms now, we can't prevaricate,"

"We really need - now, there is no time to lose - that the Greek government delivers the reforms we're asking for."

DAX rebounds sharply from 3-week lows

Germany’s benchmark index, the DAX opened the week on firmer note, posing a solid recovery from fresh 3-week lows reached in the previous session, on the latest Chinese stimulus announcement boosting investors’ sentiment.
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USD/JPY hits fresh highs above 119

The US dollar erased previous losses and turned positive versus the yen in the mid- European session, with USD/JPY reaching fresh session highs beyond 119 barrier, as the US dollar continues to outperform across the board heading in to a data-dry North American session.
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