“That’s why it’s so important that the Greek elections preferably lead to a result in which those that will form a future government say ‘yes, we will stick to the agreements’,” Mrs Merkel said.
“We will have to speak to any government. I can only warn everyone against leaving the currency union. The internal cohesion of the euro zone would be in danger.”
The Greeks vote for a new government tomorrow, facing a choice between the austerity-supporting New Democracy party, or the radical left Syriza party, which wants to reject the punishing terms of the €130bn European bailout
Jean-Claude Juncker, head of the eurozone finance ministers group, warned of serious consequences if Syrisa was victorious
“If the radical left wins – which cannot be ruled out – the consequences for the currency union are unforeseeable,” Mr Juncker said.
The election occurring amid calls for further fiscal union in the eurozone.
Benoit Coeure, an executive board member of the European Central Bank (ECB) said that a European banking union could help revive money markets by restoring confidence in the creditworthiness of banks and governments.
Mr Coeure called for closer integration as “uncoordinated national reactions to heightened uncertainty could be collectively lethal to the single market for capital”.