The drumbeat within German continues to grow louder to cast Greece out of the euro zone. Ifo’s chief economist Sinn is the latest to call for its ouster.
Still, he says, it would be better to have Greece withdraw from the monetary union than to continue to amass risks for the balance sheets of the ECB and for euro-zone national budgets. “The only choice we have remaining is that between taking a short-term risk and taking a longer-term risk,” Sinn says. “The long-term one is immeasurably large.”
