Britain's Clegg warns of impact of Greek euro exit

BERLIN

Britain's Deputy Prime Minister Nick Clegg warns a Greek exit from the eurozone could have drastic consequences for all of Europe.

According to prepared remarks being delivered Thursday in Berlin, Clegg says a Greek exit from the 17-country currency union could cause "unpredictable, irrevocable damage."

He says "no rational person interested in the wealth and wellbeing of Europe's citizens could advocate taking such a risk."

Britain is not a part of the eurozone, but its economy depends on doing business with continental Europe.

Clegg also spoke in favor of eurobonds -- an idea recently revived by France -- in which every eurozone country could borrow funds at the same rate, lowering the costs for more indebted countries.

Germany is firmly against eurobonds as a short-term fix to the debt crisis.