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INTERVIEW: Royal Dutch Shell CEO Voser: Greece Likely to Stay in EU, Euro

Published June 05, 2012 Dow Jones Newswires

Royal Dutch Shell PLC (RDSA) Chief Executive Peter Voser Tuesday said he believed Greece will stay in the European Union and in the euro, and that the common currency will stay intact despite the euro zone’s sovereign debt problems and economic downturn.”The euro clearly will stay intact, the Common Market will stay intact, which is needed for the competitive positioning of Europe,” Mr. Voser told Dow Jones Newswires.

“Whatever happens with Greece, which personally I think will stay in the euro and in the E.U., can be managed,” he said in an interview on the sidelines of the World Gas Conference in Kuala Lumpur.

Mr. Voser said he welcomed some of the actions taken by E.U. governments and the European Central Bank in recent months, “and we urge these institutions to take even more decisive action to remove some of the uncertainties in the financial markets. I am convinced it can be done.”

Action already taken in setting up firewalls and pushing liquidity into the market were decisive and good, said Mr. Voser, head of Europe’s largest energy company by capitalization.

“What we need now is to work on the longer term, harmonization on the fiscal side, on fiscal union. We need clear monitoring mechanisms for budgets and compliance with those budgets and we need enough firepower for the the countries and the banking system, and that is where the ECB comes in, in order to remove the uncertainties which are still around,” he said.

“The ECB can clearly help to make sure that sovereign and bank debts and capitalization can be dealt with.”

Write to Simon Hall at [email protected]

Copyright © 2012 Dow Jones Newswires

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