The Greek crisis has given new life to a superficial argument: that the euro zone isn’t working because its monetary union hasn’t been accompanied by fiscal and political union.
Hugo Dixon is Editor-at-Large, Reuters News. The opinions expressed are his own.
The Greeks have to choose between the bad and the truly ugly in Sunday’s referendum. If I was Greek – and I’m not, although I speak the language and had a Greek great-grandmother – I would plump for the bad option, voting “Yes”.
It looks like Alexis Tsipras is crumbling.
After the banks closed and public opinion started moving against him, the Greek prime minister seems desperate for a deal with his creditors. Athens has now defaulted to the International Monetary Fund, adding to the pressure. But it is not clear lenders will cut him any slack. They may prefer to deal with his successor.