He is concerned that the consequences of Greece leaving the Eurozone are not understood completely. Therefore he appeals to the german public to consider that "keeping Greece in the Euro area will be very expensive and very painful. But kicking it out would be even more expensive, not only for Greece but for Germany as well-, he states. In his opinion a greek exit would cause a situation even worse than "what followed Lehman Brothers-. So the unlimited bond-buying program was the only thing Mario Draghis could have offered to protect the Eurozone under the circumstances.
How the financial crisis will develop in the coming years, how Eichengreen assesses Chancellor Merkels fiscal policy, if he is worried about the level of US-dept and which presidential candidate he prefers and why, you can find out in the interview with Karolin Oltersdorf.
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