Schulz warns against Grexit, says EU is here to help

An exit from the euro would be devastating for Greece’s economy, European Parliament chief Martin Schulz said Thursday, affirming European Union solidarity with the debt-wracked member state.

“This is what I told Greek Prime Minister Alexis Tsipras: you must finally accept that these people are trying to help you,” Schulz told Frankfurter Allgemeine in an interview published Thursday.

In the same interview, the President of the European Parliament brushed aside economic arguments that Greece would be better off outside the euro area.

“First, [in case of a euro exit] the Greek economy would deteriorate dramatically. Secondly, it would immediately need massive support. Thirdly, there is the risk of other countries being forced to write off bilateral loans (with Greece),” Schulz told the newspaper.

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