Juncker: Greek rescue deal does not undermine euro

The euro zone's rescue plan for debt-stricken Greece does not undermine the European single currency, Jean-Claude Juncker, chairman of the Eurogroup of finance ministers, said on Monday.

Asked by Deutschlandfunk German radio whether the 30 billion euro emergency aid mechanism breached the European Union treaty, thereby weakening the euro, Juncker said:

"My response is that this is not the case. We're putting something together that will ensure the euro area does not fragment."

Together with at least 10 billion euros expected from the International Monetary Fund in the first year, the aid package for Greece could add up to the biggest multilateral financial rescue ever attempted, if put into action.