White House Refutes European Complacency: Warns Grexit Threatens Global Economic Recovery
by Tyler Durden
ZeroHedge.com
04/21/2015
Despite our exposure of the contagious risk increases in peripheral bond spreads, “many European officials believe a Greek exit would be manageable, and in contrast to 2010-2011, we wouldn’t see the same cascading effect on countries like Spain or Ireland,” according to the European Centre for International Political Economy in Brussels and EU Chair Jeroen Djisselbloem even noted that “the Greek situation can be isolated.” It appears America is getting nervous at Europe’s apparent complacency… White House economic adviser Jason Furman says a Greek exit from the euro zone would present “VERY LARGE AND UNNECESSARY RISK FOR GLOBAL ECONOMY.”
The Rest…HERE
