Grexit Would Be Disastrous: Ex-Greek Minister

Tuesday, 29 May 2012 | 11:00 AM ET

Former Greek Finance Minister Giorgos Papakonstantinou said exiting the single currency would be disastrous for Greece. "Incomes would drop another 20 to 30 percent. Inflation would skyrocket up to 30 to 40 percent again," he told CNBC's "European Closing Bell".