'Grexit' would be a 'disaster': Moscovici

(BERLIN) - A Greek exit from the eurozone would be a "disaster" for Greece and the bloc as a whole, the EU's economic affairs commissioner warned in the German media Friday.

Pierre Moscovici told Der Spiegel news weekly that the scenario of any country leaving the eurozone could spell the "beginning of the end".

"Anyway we are probably all agreed in Europe that a 'Grexit' would be a disaster for the Greek economy, but also for the whole eurozone," he was quoted as saying, in excerpts released ahead of Saturday's publication.

He also added that the eurozone was more than just a currency exchange area, describing it as a "currency union".

"If a country leaves this union, the markets will promptly ask the question, which country is next, and that could be the beginning of the end," the EU commissioner said.

German Finance Minister Wolfgang Schaeuble said on Austrian TV on Thursday that a disorderly Greek exit -- dubbed a 'Grexident' -- could not be excluded if Athens fails to reach a deal with its international creditors.

His spokeswoman stressed Friday that Germany's goal was to preserve the eurozone in its present form but that there would be no "blank cheque".