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European Central Bank chief Jean-Claude Trichet says if Greece were to leave the eurozone and revert to the drachma, that would be the "worst possible option".
"We created the euro to achieve the single market for the prosperity and stability of Europe," he told a news conference at the Ambrosetti Forum, an annual gathering of political and business leaders on the shores of Italy's Lake Como. "The national governments have to take care of their own national competitiveness within the euro area."
European Union antitrust chief Joaquin Almunia said Greece is dealing well with the strict austerity measures demanded by other European nations and the International Monetary Fund in exchange for a massive bailout package extended earlier this year.
Greece has been trying to pull itself out of a debt crisis that nearly led to default earlier this year. Athens sought help from the International Monetary Fund and the eurozone and is currently receiving rescue loans from a three-year €110 billion ($140 billion) package.
The bullish comments by top officials stood in stark contrast to the perspective of what appeared to be most experts attending the conference. On Friday, University of Munich economics professor Hans-Werner Sinn said Greece's problems were long-term, outlining three options: the world can either subsidize Athens indefinitely; force an even greater degree of austerity that actually risks "civil war"; or encourage Greece to restore its drachma currency despite the domestic banking collapse that could well result.
