Mistake to think that Greek contagion is contained - US Treasury Sec Jack Lew

FXStreet (Mumbai) - The US Treasury Secretary Jack Lew said on Wednesday that it would be a mistake to think Greek failure would not have any consequences on the wider world.

Lew said, "The notion that there is no contagion, I think it’s a mistake to think that a failure is no consequences outside of Greece. We don’t know the exact scope."

Lew added that the International Monetary Fund (IMF) needs to be flexible to avoid unnecessary crisis if Greece is willing to reforms.