20150629 - Greece and EU

Greece crisis: a disaster for Athens and a colossal failure for the EU

After three crises in as many days, the collective performance of the eurozones governments inspires little hope or confidence in their crisis management

Five years from its inception, the world’s biggest bailout of a sovereign state will grind to an excruciating halt on Tuesday, theoretically leaving Greece high and dry and on its own under a leftwing government bitterly accusing the EU elite of deliberately using the country as a neo-liberal laboratory.

If the experiment has been a disaster for Greece, it is also a colossal failure forEurope, with the result that at the very apex of leadership the EU nowadays resembles an unhappy assembly of squabbling politicians locked in what could not be called an “ever closer union”.

Take just the last few days. On Thursday leaders at a summit contemplated formally for the first time, however briefly, the prospect of Britain leaving the EU. By three o’clock on Friday morning they were all at one another’s throats in an unseemly quarrel over who should take part in accommodating a mere 40,000 refugees from Italy and Greece over two years, and on what terms. On Saturday, 18 governments of the eurozone cut Greece off and initiated a process that could end in pushing Athens out of the currency and perhaps out of the union.

http://www.theguardian.com/business/2015/jun/28/greece-crisis-disaster-athens-collosal-failure-eu