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Hollande Says Greece Must Remain In Eurozone

French President Francois Hollande (right) and Greek Prime Minister Antonis Samaras speaking to journalists in Paris on August 25.
French President Francois Hollande says Greece must remain in the eurozone but it needs to "demonstrate the credibility" of its commitments to reduce its budget deficit.

He spoke as he met with Greek Prime Minister Antonis Samaras in Paris on August 25 at a time when Greece is seeking to win more time to carry out painful financial reforms that are a condition for continuing to receive EU bailout loans.

Appearing jointly with Hollande after their meeting, Samaras pledged that "Greece will manage it [and] will remain in the eurozone."

The meeting between Hollande and Samaras comes a day after German Chancellor Angela Merkel hosted the Greek leader in Berlin and said she expects Greece to meet its previous commitments.

Athens has been seeking additional time beyond its current mid-2014 deadline to carry out the reforms demanded by the EU.

With reporting by AP and AFP