Oct. 14 (Bloomberg) -- Etienne Davignon, the Belgian billionaire and Suez board member, said that a Greek default has to be prevented in order to avert a chain reaction.

Davignon, speaking today in Bucharest, said the euro region needs tools to punish states that violate debt and deficit limit rules. He said he doesn’t believe in the idea of creating a euro-region finance ministry.

To contact the reporter on this story: Andra Timu at atimu@bloomberg.net

To contact the editor responsible for this story: Leon Mangasarian at lmangasarian@bloomberg.net