European project on a knife edge, says parliament head Schulz

The future of Europe hangs in the balance, the head of the European Parliament Martin Schulz said on Monday after euro zone leaders argued late into the night with near-bankrupt Greece at an emergency summit.
"Today the European project is on a knife edge," Schulz, a member of Germany's Social Democrats (SPD), told Deutschlandfunk radio.
"In Brussels, things are on a knife edge and the euro zone could fly apart," added Schulz, who said the SPD wanted Greece to stay in the euro.
Turning to an idea floated by the German Finance Ministry for Greece to temporarily exit the euro, Schulz said: "This five-year exit idea is off the table. We don't need to talk about that anymore."