US Treasury Sec Jack Lew in London ahead of the G7 meeting
- Mistake to think that failure of Greece would have no consequence for the wider world
- Biggest worry is that a miscalculation could lead to a crisis in Greece
- Institutions like IMF need top be flexible to avoid unnecessary crisis if Greece is willing to reform
- Greece needs to implement difficult policies that would be hard for every government
Enough of Greece. He adds that we need the global economy with growth doing better and that China needs to open up its economy and currency
Give it a few minutes and we'll hear that US economy is a driving force but can't be the growth engine for the world. That's his usual line.
Wait for it
