Greece and the Eurozone: one crisis, two narratives

The ‘Greek story’ simply diverts attention from the real task ahead which is the correction of the serious ‘design faults’ of the monetary union in Europe.

The author concludes 'Both Greece and Germany need to join forces for a joint European effort to reform the single currency. Greece has to fight corruption and must modernize its economy and indeed this is not negotiable. Exit from the failed strategy of austerity, however, is and should be negotiable. Debates on Grexit are a big digression and a waste of time. The survival of the eurozone is vital if the original dream of a united Europe is to be fulfilled. Its rules, however, need to be re-written. What needs to be re-negotiated urgently is a reformed eurozone without its basic ‘design faults’ and with a clear vision of what unity in Europe means'.

ESO: Background information: Europe is now on course for a showdown between Alexis Tsipras and Wolfgang Schäuble over Greek debt http://www.europeansources.info/record/europe-is-now-on-course-for-a-showdown-between-alexis-tsipras-and-wolfgang-schauble-over-greek-debt/

Blog: EU Law Analysis, 25.01.15: Catharsis or catastrophe: what next for Greece and the Eurozone? http://eulawanalysis.blogspot.co.uk/2015/01/catharsis-or-catastrophe-what-next-for.html

ECFR: Commentary, 28.01.15: How Berlin contributed to Tsipras’s victory http://www.ecfr.eu/article/commentary_how_berlin_contributed_to_tsiprass_victory412

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