Merkel’s Bavarian ally Seehofer says Grexit would cause ‘utter chaos’

BERLIN: A Greek exit from the Eurozone would cause “utter chaos” but it would have to be accepted if Athens was not willing to implement reforms, Chancellor Angela Merkel’s Bavarian ally Horst Seehofer told German newspaper Die Welt.

“No one can predict the consequences of a Grexit other than that a lot of Greece’s debts would have to be written off and at the same time monetary help would be necessary,” Seehofer, state premier of Bavaria, said in the interview published on Wednesday.

“On top of that there would be utter chaos. If Greece were not prepared to reform, a path like that would have to be accepted but one shouldn’t strive for it oneself or organise it.” (Reuters)