Greece would suffer if it defaulted on its payments and was forced to exit the euro zone, while the currency bloc is better able to withstand such a shock than it was four years ago, the chief of the International Monetary Fund (IMF) said Thursday.

I think it would be a terrible situation for the Greek people,IMF Managing Director Christine Lagarde told CNBC financial television in response to a question about a potential Greek exit from the euro zone.

Lagarde said the euro zone now is in a less vulnerable position because of its banking union and strengthened fiscal union.
Source: SPA