German business associations say 'No' vote means 'Grexit'

BERLIN (Reuters) - The heads of two leading German business associations said on Sunday that they saw no way for Greece to remain in the euro zone following the country's resounding rejection of bailout terms in a referendum.

"No, we won't be able to avoid it," Anton Boerner, head of the German exporters association, told Reuters when asked whether a so-called "Grexit" was inevitable.

Georg Fahrenschon, head of the association of German savings banks, said: "With a 'no' vote, the Greek people have spoken out against the foundations and rules of the single currency bloc. As a consequence, Greece should leave the euro zone."

(Reporting by Andreas Rinke and Andreas Kroener; Writing by Noah Barkin; Editing by Madeline Chambers)