Financial Times quotes European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis from an Atlantic Council conference call to discuss the Greek debt crisis:

“The macroeconomic scenario is getting worse by the day,” Mr Dombrovskis told US-based reporters on a conference call organised by the Atlantic Council.

The official emphasised that all efforts are now focused on striking a deal that keeps Greece in the eurozone, but added that lots of work had been done to contain the fallout should the country leave the euro.

“We have all the necessary tools and all the political will to prevent it [financial instability from a Grexit].”

Some of Greece’s European creditors are now more willing to discuss some measure of debt relief, Mr Dombrovskis indicated.

“At the end of the day it [debt relief] is for Euro zone countries to decide. It’s not for the European commission,” he said. But “there is some willingness to look at this issue.”

Read the full article here.