Moneycontrol
Last Updated : May 12, 2012 02:46 PM IST | Source: Reuters

Greek exit not fatal for euro zone - ECB's Honohan

GREEK-EXIT-NOT-FATAL-FOR-EURO-ZONE-ECBS-HONO:Greek exit not fatal for euro zone - ECB's Honohan

TALLINN (Reuters) - A Greek exit from the euro zone would damage confidence in the single currency bloc but would not necessarily be fatal, Irish central bank chief and European Central Bank policymaker Patrick Honohan said on Saturday.

"Technically it can be managed but it would be a knock to confidence for the euro area as a whole and would add to the complexity," he told a conference in the Estonian capital.

"It is not necessarily fatal, but it is not attractive."

European Commission Economic and Monetary Affairs Commissioner Ollie Rehn said leaving the euro zone would be bad for Greece and Greek cities.

(Reporting by David Mardiste, writing by Patrick Lannin; Editing by Kevin Liffey)

First Published on May 12, 2012 02:46 pm

tags #Wire News

Loading...
Sections
Follow us on
Available On
PCI DSS Compliant