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Greece to Collapse Without New Aid, Kauder Tells Bild am Sonntag

June 12 (Bloomberg) -- A failure to agree upon a new aid package for Greece would be irresponsible and highly risky, Volker Kauder, the parliamentary leader of German Chancellor Angela Merkel’s Christian Democratic bloc, told Bild am Sonntag newspaper.

The Greek economy would collapse, the country could not repay its debt, and the financial systems of other countries would be in danger, possibly resulting in a new financial and economic crisis, Kauder said according to the article.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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