German conservative says Greece may be better off outside euro

Senior German conservative lawmaker Hans Michelbach told Reuters on Sunday that Greece might be better off outside the single currency after early referendum results showed the country was poised to reject eurozone bailout terms.

"Now one has to ask the question whether Greece would not be better off outside the eurozone," said Michelbach, a hardline member of the Bavarian Christian Social Union (CSU) and part of Chancellor Angela Merkel's conservative bloc.

"Unfortunately, Greece has chosen a path of isolation," he said, adding that if a "no" vote won, as results indicate, he saw no basis for further aid for Greece.

[Reuters]