ECONOMY

Greek exit manageble but costly, says Asmussen

European Central Bank executive board member Joerg Asmussen says a Greek euro exit would be ?manageable? but much more expensive than some people believe.

“It would be associated with a loss of growth and higher unemployment and it would be very expensive – in Greece, Europe as a whole and even in Germany,» he told German newspaper Frankfurter Rundschau.

?Firstly my clear preference is that Greece should remain in the currency union,» Asmussen told the newspaper, adding that it was up to the Greek government to ensure that this was the case.