The only solution for Greece's economy is country to leave the eurozone, Nouriel Roubini, professor of economics at the New York University and consultant at the US Congress said during the business forum in Athens which was participated by the officials of banking sector.

The famous economist, considered that no matter how the budget harmonisation in Greece will be correctly made, the country will not solve the huge state debt problem.

- On the contrary this debt sharpens this problem since it damages the growth. Introduction of taxes leads to recession and leaves the country in high debt trap, professor explained.

Roubini considered that the only solution for Greece to return part of the lost competitiveness is to devalue its currency.

Nouriel Roubini met with Greek PM today.The two men have a long personal relationship and some of Greek analysts might remember the famous line from their last Davos meeting where Yiorgos Papandreou had reprimanded the financier saying, “you should not analyze if you do not know the full details of an economy…”

But even today, as reported from a restricted event held in Athens which included executives from the business and banking sector, Nouriel Roubini insisted that the only solution for Greece is exiting from the euro, returning to the drachma and if this is impossible, the restructuring of the debt.

In particular, Roubini estimated that the only solution for the restoration of the Greek economy is the devaluation of its currency, which means leaving the euro zone and going back to the drachma.

However, he explained that this is not feasible since it presupposes withdrawal from the EU, and pointed out that in such an eventuality, the devaluation of the currency would rise to 50%.

So the final solution for Greece is the controlled restructuring of the debt with an extension of the repayment period.