The Chairman of the German Council of Economic Experts Christoph Matthias Schmidt argued that the possible exit of Greece from the Eurozone could trigger a humanitarian crisis.
Mr. Schmidt, who spoke to Westdeutsche Allgemeine Zeitung, noted that there would be major consequences and that the Greek government is playing with fire.
Nevertheless, the economist urged Eurozone members to not give in to the Greek government’s demands, as he believes that Athens wants to avoid any reforms.
Should the Eurozone members cave in to the Greek government’s demands, the cost would be immense, he argued.
