ISTANBUL
Turkish Deputy Prime Minister Ali Babacan said Tuesday that an exit for Greece from the euro area was impossible in legal contemplation, adding that saving Greece would be less costly than letting the country default.
"It is crucial that Greece received the necessary support it needs. Otherwise, euro zone would be pedalling into a peril," Babacan told reporters after participating in Brussels in a meeting of Economic and Financial Affairs Council (ECOFIN) of EU ministers as well as a meeting to strengthen women entrepreneurs in the EU.
Babacan warned that once the Greek exit was opened to discussion, similar debates would soon follow on other euro member countries, adding, "the first country to debate euro zone exit won't be the last."
