EU's Almunia says euro to 'stay forever'

EU Economic and Monetary Affairs Commissioner Joaquin Almunia has downplayed concerns over the viability of European Monetary Union, saying that no member is likely to abandon the body.

"The euro is there to stay forever, and I cannot imagine how a member state that now belongs to the euro area can leave it," Almunia said Friday after delivering a speech in London. "Not because of the legal reasons, but because of the economic ones and political ones in trying to adopt such a position," he add