Greek withdrawal from eurozone would be disaster

A withdrawal of Greece from the eurozone would be "a disaster" for the Greek people, said Jose Manuel Barroso, President of the European Commission on Monday during his visit to Vienna. He was speaking in an interview with the Austrian daily newspaper "Die Presse". "We know how it went to the people of South American countries, as they went bankrupt," said the President, according to report from the Austrian Press Agency (APA). The President also considered the exit of Greece would be a momentous failure in a member country of a monetary union, saying that "it would cause effect on the other members - would trigger a domino effect, if Greece exits." Barroso said he was confident that Greece can overcome its crisis. In terms of Europe democratization, he said in the interview that "instead of a nationalization of European politics, an integration of national policy in Europe is also necessary." During his visit, Barroso also met with Austrian Chancellor Werner Faymann and President Heinz Fischer earlier in the day.