• Ifo President Hans-Werner Sinn: the latest agreement between Athens and its lenders is not good

Market news

13 July 2015

Ifo President Hans-Werner Sinn: the latest agreement between Athens and its lenders is not good

The president of the Ifo Institute for Economic Research in Munich, Hans-Werner Sinn, said the latest agreement between Athens and its lenders is not good.

"Many people believe that the paper presented is good for Greece. It is not. While it will cost the rest of Europe a lot of money, all this money won't be enough to make the Greeks happy," he said.

"It makes no sense to want to pour in money to try to solve the country's problems. That won't create jobs," Sinn added.

He noted that the Greek tragedy will continue for the next three years.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.