ECB’s Weidmann Says Euro Zone May Grow in Coming Years

Bundesbank President Jens Weidmann said all 17 euro members are likely to keep the joint currency in coming years and that other countries may also sign up, Welt am Sonntag reported, citing an interview.

An exit by Greece wouldn’t solve its problems and may lead to pressure on other members to quit the currency, Weidmann said, according to a preview of a story to run in Welt am Sonntag tomorrow. Solidarity in the European Union “has limits,” which is why the international aid to Greece is tied to certain conditions, the newspaper cited Weidmann as saying.

While the European Union’s rescue funds and loans “buy time,” they don’t solve the problems behind the region’s debt crisis, Weidmann is quoted as saying. The European Central Bank’s measures to help solve the crisis means it sometimes moves in “new, and very uncertain, territory,” Weidmann said.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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