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Otmar Issing | Greece may be better off without the Euro


Otmar Issing | Greece may be better off without the Euro

It might be better if Greece leaves the euro, Otmar Issing stated, a former board member of the ECB, and also known as one of the architects of the euro.

“The euro is irreversible, but it is an open question whether it is irreversible for every country,” he said in an interview to the American news network CNBC.

“For Greece, there are very good arguments that it would do well outside the euro zone for some time, but it all depends on the decisions of the Greek government,” he said.

The German economist, who is now the president of the Center for Financial Studies at Goethe University, referred to China and the high degree of uncertainty and predicted an era of “moderate growth, but not one of stagnation.”

Finally, referring to the ECB meeting later this week, he warned against a further expansion of the monetary easing program, noting that the bubble creation in fixed income markets clearly outweighs any advantages it plans to create.