Greece

After the crisis is before the crisis

Crunch time or not, the Greek crisis will remain with us for much longer. There is no way it will be resolved once and for all this week. It has been promised to us too often over the past five years. [...]

Greece’s madmen at work

Hardly a day passes that a Greek government official does not add a needless provocation to the bailout debate. Which brings me back to my opening question: Is this just madness? Or is there method in it? [...]

‘Constructive ambiguity’ will not save Europe

Europe is well past the stage at which it needs constructive ambiguity. It needs actions. It needs decisions. And it needs them now, not in four months’ time. Please, can we finally see the last act in this Greek drama? [...]

The political rookies gambling with Greece’s future

Tsipras and Varoufakis may not realise it but their gamble with Europe has the potential of backfiring on them and their country. Their actions could even make even the most plausible alternative scenarios to staying within the eurozone look unappealing. [...]

When German order met Greek disorder

For Varoufakis and Schäuble, there really is little hope of finding any common ground. They are personally too different to bridge the gap between their upbringings and beliefs. If they do not even agree to disagree, that is probably the best anyone can hope for. Indeed, had they agreed to disagree, it is only likely they would have misunderstood each other. [...]

Syriza’s wrong-headed approach to Greece’s problems

Barely sworn in, Prime Minister Alexis Tsipras’ new cabinet went straight to work trying to turn their country upside down -- and the European Union with it. By fighting austerity and pushing for debt relief, they are attempting to lead Greece out of its five-year long depression and solve its economic woes. Unfortunately, the Tsipras government is fighting the wrong crisis. [...]

Tsipras’ win is Merkel’s failure

The biggest loser in Greece’s snap election was not even on the ballot paper. It was German Chancellor Angela Merkel whose austerity policies in the euro crisis were rejected by Greece’s swing to the radical left. [...]

The euro crisis has become a game of chicken

The most important question of what the Greek election result will mean for the euro crisis has not been answered satisfactorily. There is no easy answer to this question, only a range of different scenarios. As of today, it is hard, if not impossible, to put probabilities to them. [...]