South Africa: Euro crisis to hit SA, Gordhan warns

South Africa would not be able to escape an escalated European crisis unscathed, Finance Minister Pravin Gordhan said on Thursday, adding its direct economic exposure to the countries affected was reasonably low. 'South Africa's direct economic exposure to those countries affected by current market turmoil is reasonably low,' Gordhan said in an opinion piece published in Business Day. 'The greater risk for South Africa is the potential for contagion that results in a prolonged and expanding crisis in Europe and undermines global growth significantly.'