World

EU Commission says euro membership irrevocable, but open whether Greece can renegotiate terms

  • The exchange rate of the US Dollar  and  the Euro, at top, is displayed in the window of a currency exchange office in Berlin, Monday, Jan. 5, 2015. The euro sank to a nine-year low Monday as new doubts surfaced about Greece's commitment to the common currency bloc. European stocks mostly rose while Asian markets were mixed. (AP Photo/Markus Schreiber)

    The exchange rate of the US Dollar and the Euro, at top, is displayed in the window of a currency exchange office in Berlin, Monday, Jan. 5, 2015. The euro sank to a nine-year low Monday as new doubts surfaced about Greece's commitment to the common currency bloc. European stocks mostly rose while Asian markets were mixed. (AP Photo/Markus Schreiber)  (The Associated Press)

  • Greece's main opposition Syriza party leader Alexis Tsipras addresses his party's Congress in Athens on Saturday, Jan. 3, 2015. The Congress was convened to finalize the party's candidate lists for the upcoming Jan. 25 national elections, which Syriza is favored to win. (AP Photo/Petros Giannakouris)

    Greece's main opposition Syriza party leader Alexis Tsipras addresses his party's Congress in Athens on Saturday, Jan. 3, 2015. The Congress was convened to finalize the party's candidate lists for the upcoming Jan. 25 national elections, which Syriza is favored to win. (AP Photo/Petros Giannakouris)  (The Associated Press)

  • Greece's main opposition Syriza party leader Alexis Tsipras addresses his party's Congress in Athens on Saturday, Jan. 3, 2015. The Congress was convened to finalize the party's candidate lists for the upcoming Jan. 25 national elections, which Syriza is favored to win. (AP Photo/Petros Giannakouris)

    Greece's main opposition Syriza party leader Alexis Tsipras addresses his party's Congress in Athens on Saturday, Jan. 3, 2015. The Congress was convened to finalize the party's candidate lists for the upcoming Jan. 25 national elections, which Syriza is favored to win. (AP Photo/Petros Giannakouris)  (The Associated Press)

The European Union's executive Commission says membership in the euro bloc is "irrevocable" but leaves it open to what extent Greece could renegotiate the terms after the Jan. 25 elections.

EU spokeswoman Annika Breidthardt said Monday that if the Greek elections call for a need to look again at the conditions of Athens' membership within the 19-country eurozone, "we will deal with that once the Greek voters have cast their verdict."

At the same time, she insisted that a full exit by Greece was not on the cards since the euro rules say that "membership is irrevocable."

Some say that if the left-wing Syriza party wins the election in Greece, the new government may renege on the terms of the country's bailout, possibly putting in question its euro membership.