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Monday, June 22, 2015

Greece is a sideshow. The eurozone has failed, and Germans are its victims too

The single currency has driven down wages across the continent and hit workers in its leading economy the hardestNearly every discussion of the Greek fiasco is based on a morality play. Call it Naughty Greece versus Noble Europe. Those troublesome Greeks never belonged in the euro, runs this story. Once inside, they got themselves into a big fat mess – and now it’s up to Europe to sort it all out. Related: Eurozone creditors raise hopes of Greek bailout deal This isn’t about creating a deeper democracy, but deeper markets – and the two are increasingly incompatible Related: Tsipras of Athens – a gripping drama entering its final act | Larry Elliott Continue reading...


READ THE ORIGINAL POST AT www.theguardian.com