The farce of trying to keep Greece in the euro zone
Klaus Segbers in the South China Morning Post
News from Jul 01, 2015
CGP Director Klaus Segbers has written an opinion piece about the Greek euro zone crisis for the South China Morning Post.
The piece covers the seeminly endless supply of summit meetings, which all stand to give Greece more time: "there has never before been such an abundance of time for a country".
Professor Segbers asks, "What lies behind this farce, and the hesitancy of the 18 other euro-zone governments to call a spade a spade? In other words, why has Greece, finally, not simply been kicked out of the euro zone?"
He concludes that, "continuing to throw good money after bad won't solve a thing". That a 'Grexit' would send the wrong message to governments, that "rules can be ignored and violated without much harm. That may be the biggest danger right now".
This is particularly true where other EU member states have implemented difficults, albeit necessary, financial readjustments. "How can one explain to the people there that they experienced hardship for their later successes, and should now sacrifice again for a country that tries to avoid more difficulties?"
Read the full piece here.