Blackstone CEO says Euro Zone Could Contain Grexit Contagion

Jul 1 2015 | 9:41am ET

(Reuters) - The EU should be able to contain the fallout of a possible exit of the euro zone by Greece, whose economy and financial system is at real risk ahead of a referendum on Sunday, the chief executive of private equity fund Blackstone said on Wednesday.

Blackstone Chief Executive and Chairman Stephen Schwarzman said that the euro zone could contain a 'Grexit'. "There have been some very significant changes since 2010 and the euro zone is much, much better prepared," he told journalists in Ireland.

"I would be surprised if it (the Greek referendum) were not a strong 'Yes' vote because the country is at real risk in terms of stability of their financial institutions and their economy," Schwarzman said.

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