Issing Doesn’t Rule Out Euro-Zone Exits, Neue Zuercher Reports

Otmar Issing, the former chief economist of the European Central Bank, said he wouldn’t rule out exits from the euro area, Neue Zuercher Zeitung reported, citing an interview.

“The Greek case is obvious,” Issing told the newspaper. He added that the risk of contagion has fallen because countries like Ireland and Spain escaped “the line of fire” because of reforms. For the highly-indebted nations there is “no alternative” to fiscal consolidation, he said, Neue Zuercher reported.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net;

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