U.S. Treasury Secretary Jack Lew said he feared Greece leaving the euro zone by “accident” and warned that the country and its creditors needed to “double down” their efforts so they can meet the next debt payment deadline.
Speaking at the London School of Economics, Lew said that a “miscalculation” at this stage could lead to a fresh crisis that could potentially be “very damaging”.
Lew’s comments echoed those of chief economic adviser at Allianz, Mohamed El-Erian, who told CNBC on Tuesday that there was an increasing probability of a financial “accident” involving debt-strapped Greece.
El-Erian pegged the chances of an “accident”—in which Greek and European officials loose the ability to control Greece’s future—at 55 percent to 60 percent, which he said was higher than what he had predicted just a few weeks ago.
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