Less than two weeks later, Lew is taking a far more cautious line. On
Wednesday, he made one last plea for a deal, calling on Europe to give
Athens some debt relief in exchange for spending cuts and pension
reforms. It was his most
strident call to compromise to date, and hinted at contagion fears.
“There’s a lot of unknowns if this goes to a place that completely
melts down in Greece. I think that is a risk that the Europeans and
global economy don’t need. I think geopolitically it would be a
mistake,” Lew said.
end partial quote from:
Contagion is on Lew's mind as he discusses this with Obama and the American people. So, he might be worried about "too big to fail banks" being brought down in Europe by this too.
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