Opinion: (Jose Manuel Barroso, European Commission President): “A Greek default would have unforeseeable consequences and cause the euro zone crisis to spread, European Commission President Jose Manuel Barroso was quoted as saying in mass-selling Bild daily.

“‘If we give up on Greece, there is a big danger that the crisis will spread to other countries,’ Barroso told Bild in an interview to be published on Monday, echoing comments of German Chancellor Angela Merkel.

“Barroso noted the euro zone had no experience with the possible bankruptcy of a member state.

“Barroso added that Europe needed to correct the ‘orgy of consumption’ that had taken place in some countries due to the introduction of a strong common currency with low interest rates.”
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