Merkel under fire over possible 'Grexit' approval

German Chancellor Angela Merkel came under fire Sunday over a magazine report suggesting she would be prepared to let Greece exit the euro should a far-left party win a snap Greek election. Der Spiegel news weekly quoted government sources as saying Berlin sees a Greek exit from the eurozone as “almost inevitable” should the radical leftist Syriza party win the vote and abandon Athens’ current austerity course. Both Merkel and her finance minister Wolfgang Schaeuble had come to consider that Greece’s departure from the single-currency bloc would be “manageable”, the magazine said. The recovery underway in other formerly problem economies such as Ireland and Portugal, the establishment of a permanent eurozone bailout fund and the creation of a banking union had all bolstered Berlin’s belief that the contagion from a fresh Greek crisis would be limited, it added.

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