BUSINESS

Merkel party officials resurrect Grexit idea

The issue of easing the Greek debt is creating friction in the new German government, with the Financial Council of Chancellor Angela Merkel’s Christian Democrat Union (CDU) launching an attack on Thursday against Social Democrat Finance Minister Olaf Scholz and Greek Prime Minister Alexis Tsipras.

The council, effectively an association of 12,000 small and medium-sized enterprises, said Greece will only regain its competitiveness by devaluing its currency, which would require an exit from the eurozone.

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