Greece Faces ‘Illness’ If It Keeps Euro, Ifo’s Sinn Tells PNP
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Hans-Werner Sinn, head of the Munich-based Ifo economic institute, said that Greece faces a decade-long “illness’ if it stays in the euro area and tries to increase its competitiveness by lowering wages and prices, Passauer Neue Presse said today, citing an interview with Sinn.
A return to its old currency, the drachma, would be an easier route for Greece, Sinn said, according to the newspaper.