Germany and Greece are on a collision course because there is no large-scale method of recycling taxes in the eurozoneGreece and Germany are on a collision course. Alexis Tsipras’s new Syriza-led government in Athens wants a big chunk of its debt written off. Angela Merkel is saying “nein” to that. If this were a western, Tsipras and Merkel would be the two gunslingers who have decided in time-honoured fashion that “this town ain’t big enough for the both of us”.But this isn’t Hollywood. There is no guarantee that this shootout will have a happy ending. Things look like getting nasty and messy. The five-year crisis in the eurozone has entered a dangerous new phase. Continue reading...
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