Senior German conservative Michael Fuchs told Reuters on Sunday that Greek Prime Minister Alexis Tsipras had caused a "disaster" after early referendum results showed the country has rejected euro zone bailout terms.

"I very much regret the result," Fuchs said by telephone.

"Tsipras has caused a disaster and must see how to pick up the pieces. There is no chance that a solution will be achieved within 48 hours," said Fuchs, who has long had reservations about bailouts for Greece.

A more moderate German conservative, Julia Kloeckner, said in a statement that Tsipras should not think he could put Germany and Europe under pressure with the referendum result but stopped short of calling for a Greek exit from the euro zone.  (Reuters)

Source: www.businessworld.ie