Top German Economist: ‘It’s in Greece’s Interest to Reintroduce the Drachma’ – SPIEGEL ONLINE – News – International

[Economist Hans-Werner Sinn, president of the Institute for Economic Research, in Munich]: What politicians refer to as a “rescue” will not actually save Greece. The Greeks won’t ever return to health under the euro. The country just isn’t competitive. Wages and prices are far too high, and the bailout plan will only freeze this situation in place. So it’s in Greece’s interest to leave the euro and reintroduce the drachma.

via Top German Economist: ‘It’s in Greece’s Interest to Reintroduce the Drachma’ – SPIEGEL ONLINE – News – International.