American Economist and former US Secretary of the Treasury Timothy Geithner has stressed that “the Greek drama highlights the risk of political contagion that the currency union has faced since it was founded in 1999”, in an article on CNN Money.
Furthermore, Mr. Geithner maintains that the dramatic situation in Greece and the possibility of a “Grexit” could “infect” other Eurozone member states, such as Spain and Portugal.
Mr. Geithner claims in his article that Europe is “in a worse spot than Japan” and warned that “dark clouds” may be looming over Europe that may be “more ominous than people realize”.
