20-02-15

cep expert Kullas: 'Grexit' poses unforeseeable risks to all member states

In the case of an exit of Greece from the Eurozone, the currency union would lose its infinite character, Matthias Kullas explains in an interview with German broadcaster Bayerischer Rundfunk

Eurogroup's Dijsselbloem (l.) and Greek Finance Minister Varoufakis

Nobody can say with certainty what the consequences of an exit of Greece from the Eurozone would be, cep economic expert Matthias Kullas warned in an interview with German radio station Bayerischer Rundfunk aired Friday. “There exists no precedent,” Kullas remarked. In the case of a “Grexit”, Greece surely would have problems financing imports of, for example, pharmaceutical and agricultural products. The Eurozone, however, would lose its infinite character. The currency union would become “a loose construction with entries and exits,” Kullas explained.