– Grexit is not an option – assured yesterday the head of the European Commission Jean-Claude Juncker . But then he added that “Europe has received a mighty blow, and the goodwill was thrown to the wind”. – Games populist took advantage over the rest – commented.
According to unofficial information yesterday Greek Prime Minister Alexis Tsipras asked for an extension of the financial assistance for his country. In a telephone conversation with Juncker argued that the Greeks can not be deprived of the right to a plebiscite scheduled for Saturday.
What is certain is that throughout this extended from five years of history are themselves losers. The Greeks, tired of five years of painful austerity radical choosing Syriza , hoped to help ease austerity policies. Instead, they have closed banks, restrictions on access to their own money and a real prospect that kept their savings in euros will soon be converted to quickly depreciates the new coin . The effect will be that coming out slowly from recession economy falls deeper into it.
The losers are also EU Hellas creditors. And it’s not even about almost 215 billion that Greece is now the euro zone guilty in exchange for two bailouty and help European Central Bank . It is not that if the schedule repayment of debts by Greece is written out to the year 2045, this loss will go unnoticed in practice.
The most important, however, is that since Greece started slow disintegration of the European Union in its current form. Center led by Germany will start with the building of Europe around its banking and fiscal union. With its own budget and its own institutions. The periphery will operate in the organization of marginal political significance. Because Grexit is a return to the idea of creating a hard core Union, composed of healthy economies in the euro zone.
EU leaders over the past five years repeated that a Greek exit from the euro zone may be the beginning of its disintegration. Today, this self-fulfilling promise begins to materialize.
The euro area without Greece will survive because it is better prepared for the crisis than it was in 2010 or 2012. There is no lack even the votes that ultimately comes out of her is good, because getting rid of the weakest link – and in fact the only non-matching from the beginning – regain credibility and will be able to more closely integrate among themselves.
Even if Grexit zbilansuje economically, politically would be the end of the integration project in the shape carried out for years. If you will rely on the output not only in the euro zone, but in general from the European Union – will end up in that crucial to our security will gain a foothold region Russia or China. Maybe Eurozone will be economically more credible without Greece. Reliable will not be the Union.
