Juncker said on Thursday that EU officials are prepared for Grexit. European Commission President Jean-Claude Juncker says authorities are prepared for all eventualities in Brussels' drawn-out negotiations with Greece about its financial crisis — including a scenario in which debt-laden Greece leaves the euro single currency or the European Union itself. "The commission is prepared for everything. We have a Grexit scenario, prepared in detail," Juncker said after an emergency eurozone summit wrapped up with leaders giving Greece until Thursday to submit detailed reform proposals that could form the basis of a new bailout, Yahoo News reported. Juncker did not elaborate on what exactly he meant by the term Grexit. He says the commission also has plans in case Greece needs humanitarian aid and, what Juncker called his favorite option, "a scenario how to deal with the problem now keeping Greece as a member of the euro area."