September 13, 2011
Euroskeptics on Greece: 'We told you so!'
Will Greece default? The question is roiling financial markets in Europe -- and spreading financial jitters around the world. It's also energizing Britain's Euroskeptics and renewing pointed questions about the wisdom of European unification, and specifically about the "eurozone" -- the 17 states of the 27-member European Union that share a common currency -- the euro. Keeping Greece on the euro means imposing more harsh austerity measures on that country, which got it's first bail-out package in May last year. But tougher austerity measures for Greece are probably untenable because of the tremendous hardship they'll impose upon ordinary Greeks. Even more problematic: Keeping Greece on the euro means eliminating -- virtually overnight -- Greece's endemic corruption that should have disqualified it from joining the EU's eurozone in the first place. (Greece may be the cradle of democracy and...(Read Full Post)