Lamfalussy says euro zone stable despite Greece

The euro zone is stable despite the financial woes of Greece, which are far more serious than economic challenges faced by any other member states, economist Alexandre Lamfalussy said on Sunday. Lamfalussy was founding president of the European Monetary Institute, which became the European Central Bank. He reacted to concerns voiced by investors including billionaire Gyorgy Soros who has said the euro currency's future was in question even if Greece is rescued as Spain, Italy, Portugal and Ireland also had economic problems.

"No other (euro zone member) state is in a situation comparable to Greece," said Lamfalussy, who was born in Hungary like Soros.

Lamfalussy says euro zone stable despite Greece | Reuters