"We have, unfortunately, nothing but bad choices," he said. "What we're looking at is better burden-sharing. Right now more of the burden-sharing is being taken by the Greek people."
"The Germans have it right in the sense of saying we cannot continue this process whereby the burden is carried by fewer and fewer people," he said. "But the French and now the ECB, which holds a lot of this debt, say no. That's what happened with a year of inaction."
"The issue is nothing so far has been done to solve the two problems Greece has: One, excessive debt and second, an inability to grow," he said. "This problem is not going to go away. It's going to weigh on markets here and we're going to see the same set of headlines over and over again. We simply cannot continue to kick the can down the road, because we're coming to the end of the road in Greece."
