Greek euro exit too costly, warns Merkel coalition member

Berlin

A GREEK exit from the euro area would have "incalculable" consequences and leave Germany facing the biggest loss on European financial aid extended to Greece, a lawmaker in Chancellor Angela Merkel's coalition said.

"Europe can't afford a Greek exit," Joachim Poss, the Social Democratic Party's deputy finance spokesman in the German parliament, said. Suggestions by allies of Mrs Merkel that the 19-nation currency bloc could weather Greece's departure amount to "playing with fire at a fragile moment in the stability of the euro area", he said.