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Greece Euro Exit Manageable for German Banks, CDU’s Fuchs Says

German banks could handle a Greek exit from the euro area, according to Michael Fuchs, deputy parliamentary leader of Chancellor Angela Merkel’s Christian Democratic Union party.

“A theoretical exit for Greece would be manageable,” Fuchs told reporters in Berlin today. “The exposure at this stage is about 17 billion euros if I’m not mistaken,” virtually all of it in the public sector, he said.

To contact the reporter on this story: Brian Parkin in Berlin at bparkin@bloomberg.net

To contact the editor responsible for this story: Tony Czuczka at aczuczka@bloomberg.net

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