the third bailout agreement destroyed everything and resolved nothing. Sooner or later, Greece and its creditors will be back in Brussels to continue their ritualistic late-night crisis talks; except next time around, the risks and consequences of a disorderly Grexit will only be greater, for there will be no credible political force to contain it. The Eurozone may have temporarily imposed a Carthaginian peace upon the “unruly” Greeks this summer, but the lessons of King Pyrrhus still loom ominously over the smoldering battlefield: one more such victory would utterly undo the single currency.
Sourced through Scoop.it from: roarmag.org
Europe’s new austerity diktat will not re-orient the Greek economy towards economic and ecological sustainability