Former U.S. Treasurer Jack Lew speaks at Economist conference in Athens suburb

U.S. Treasury Secretary Jack Lew makes remarks to the press on his meetings throughout the day at the IMF/World Bank's 2014 Spring Meetings, in Washington, April 11, 2014. REUTERS/Mike Theiler (UNITED STATES - Tags: BUSINESS POLITICS)

Greece’s economy may be small compared to other European Union countries, but the idea of a Grexit created a lot of uncertainty, said Jack Lew, former treasurer for the United States, south of Athens on Monday.

Speaking at an Economist conference on Greece’s economy, Lew criticised the policy of extreme austerity and expressed support for the restructuring of Greece’s bailout loan and of the tax and investments sectors.