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.
Syriza’s election in Greece turned discussion in Europe once more to the possibility of a Grexit. Cutting Athens loose, however, would not help Greece, and do little to repair the eurozone’s remaining problems.