The dire situation in Greece and turmoil in Turkey are making the current refugee deal unsustainable.
Greek Prime Minister Alexis Tsipras started out as the far-left David taking on the EU-IMF Goliath. Now he is seen as Berlin’s poodle.
Thousands of refugees are stuck in Greece.
Greece’s “self-evident revolution” (Η επανάσταση του αυτονόητου) stumbles over its children’s basic understanding of what’s right and what’s wrong.
Syriza’s election was supposed to mark a new direction for Greece. Instead, conditions have steadily worsened. The country is in dire eco-nomic shape and faces the brunt of the refugee crisis.
The giant consensus machine that is the EU is still running smoothly enough, but Europe – and Greece – will continue to suffer from the euro’s flawed construction.
Germany is facing intense criticism for its handling of the Greek crisis. However, few remember the obstacles the Merkel government had to overcome to reach an agreement with Athens and keep the eurozone together.
Germany’s finance minister may be (southern) Europe’s most hated man – at home his approval ratings are going through the roof. Pointing to the inner logic of eurozone rules he may have more in mind than the future Europe’s single currency.
The notion of “European solidarity” cuts many ways; right now, it needs to be applied to the EU’s two most pressing problems, Greece and refugees.
The fallout with Greece has shown the complexity of governing the eurozone. The time to address the euro’s weaknesses and keep Europe’s single currency credible is now.
The real dividing line in the debate about Greece and the euro is whether Germany and Europe should give in to Athens’ demands, or force Greece to reform? Interestingly, both camps are firmly pro-European.
Greece needs to make reforms if it is to return to growth, and it is more likely that this will happen inside the euro than outside. The key is to reactivate a logic that has worked many times: solidarity in exchange for reforms.
Has anybody counted how often the headline “Now Grexit is unavoidable” has popped up in the media over the last few months? In fact, the ongoing Greek debt crisis is predictable only in its unpredictability.
Angela Merkel’s government seem to be taking the accelerating Greek crisis in good spirits, and it isn’t hard to see why: with Sunday’s referendum, Greece’s government has taken the country’s fate into its own hands
German Chancellor Angela Merkel may not be to blame for the crisis in Greece, but her handling has contributed to the emergency the euro finds itself in now.
Seen from the other end of the Atlantic, the solution to the euro crisis always seemed obvious to some – not least NYT columnist Paul Krugman. Yet the Nobel Prize-winning economist has been wrong on virtually everything he has said about European fiscal policy.