German expert, Professor Hans-Werner Sinn, told Deutsche Welle that additional financial assistance from eurozone countries will not help Greece, adding that the only useful option for the latter would be the exit from the eurozone and return to its national currency.
The Eurogroup, consisting of finance ministers from eurozone states, representatives of the European Commission and the European Central Bank, announced its readiness to extend the loan program for Greece to help the country to keep its economy afloat.
However, Mr. Sinn criticized such a policy, claiming that the country should first restore its competitiveness – the goal, which can be achieved only by the exit from the eurozone and return to the drachma.
Greece’s withdrawal from the monetary union, however, does not have to be permanent, the economic expert says. He can imagine an option of the country’s return and compares Greece’s potential exit from the eurozone with a temporary "stay in a hospital".
