Greece Risking ‘Chaos’ Has Eichengreen Urging Lesser Evil

Greece’s exit from the euro would unleash turmoil whose fallout will far exceed the cost of staying in the currency union, said U.S. economist Barry Eichengreen.

Reintroducing the drachma would solve none of Greece’s problems and instead set the stage for “even more chaos and uncertainty,” Eichengreen, a professor at the University of California, Berkeley, said in an interview in Prague on Friday.