observer wrote:Greece should never have been allowed into the Euro. This is a financial, not a political, view. The difference between the Greek economy and that of Germany is so great that they can not use the same economic strategies.
Even if the problem is solved this time, it will reoccur. You can not have monetary union without fiscal union. You can not have fiscal union without political union. Greece would never accept political union as it would mean being dominated by Germany. Germany would never accept political union accompanied by endless payments to industrial and economically weaker countries like Greece.
Well observed observer!
Greece is already in default. Borrowing more money (the inevitable consequence of staying in the €uro) when you can't pay back the money you've already borrowed simply makes no sense at all.