'' The euro zone can protect its currency if its stronger countries provide more support for the weaker to help them deal with their problems, British finance minister George Osborne said in a newspaper on Sunday.
The future of Europe's 17-country single currency bloc is under threat from a political stalemate in Greece, which could lead to its departure from the monetary union at unknown costs to the financial system and global economic stability.
"Euro zone countries must either stand behind their currency or face up to the prospect of Greek exit, with all the risks that could involve," Osborne wrote in The Sunday Times.
"How can they stand behind the euro? First, those countries with high deficits and low competitiveness need to carry on confronting their problems head on. But in the absence of flexible exchange rates, the economic and political barriers to dealing with those problems will only get worse without more support from the core of the euro zone."
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