Wednesday, July 8, 2015

Lew: "There are a lot of unknowns if this------melts down in Greece."

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:

The Fed is Worried About Greece and China Even if the White

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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