German Chancellor Angela Merkel has said it would be «catastrophic» to allow Greece to exit the euro area, adding that keeping the debt-hit nation in the common currency zone was also a political decision, Skai reported Monday.
"We have taken the decision to be in a currency union. This is not only a monetary decision it is a political one,» Merkel told the BBC in an interview to be broadcast on Monday, Skai said.
"It would be catastrophic if we were to say to one of those who have decided to be with us, 'We no longer want you',” she was quoted as saying, adding that the exit of a member country is not foreseen in the European Union rulebooks.
"Incidentally the treaties don't allow for that anyway. People all over the world would ask, 'Who will be next?' The Euro area would be incredibly weakened."