Greece can decide about its membership in the euro area, but the country would have to bear the consequences, European Central Bank Governing Council member Jens Weidmann reportedly said in a joint interview.
In the interview jointly given to newspapers Kathimerini, Corriere della Sera, El Pais and Publico, the Bundesbank president said if it decides to exit, then Greece will be worse affected than any other member nations.
Weidmann said the key message from Portugal and Ireland is that 'adjustment programmes work'. The reforms taken by these nations helped to reduce unit labor costs. "We also see the first benefits of this in the current account deficit," he added.
by RTT Staff Writer
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