In an interview with Bloomberg Television’s Peter Cook, U.S. Treasury Secretary Jack Lew urged Greece to reach an agreement with its international creditors.

In a clear message to the Greek Government, the U.S. official said that Greece must get down to the technical work of making changes and work with the Institutions to come to a mutual understanding.

Underlining that there is no time to waste on Greek reform plans Lew stressed that the effects of a Grexit would be devastating for the Mediterranean country.

More specifically, he said: “I think that there’s no doubt that if this leads to a crisis that — such as Greece leaving the Eurozone, it will cause an enormous amount of disruption and hardship in Greece. I have said consistently that no one should think that all of the risk of a change like that is predictable in advance and, you know, even if the contagion risk is much less now than it was, say, in 2012 and earlier, it would not be a good thing in a world economy just recovering from a deep recession to have that kind of uncertainty introduced.”