EU Summit Canceled as Germany Threatens Temporary Grexit Without More Concessions

Dom7/12/2015 12:15:24 pm PDT

The plan is not as incendiary as your description of it - there is indeed deep scepticism about relations that amount to a Franco-German EU axis, evident in any negotiation over subsidies and exemptions, but in this instance Germany cannot set a precedent of being easy on an EU state that doesn’t respect the financial rules. There is a north-south split within Europe, responsible economies and essentially relaxed, maybe corrupt ones. The UK rejected the Euro primarily because of these unstable economies, not because of concern about Germany. Greece is getting schooled in adherence to basic rules: you can’t go cap in hand time after time with no plan and no intention to meet repayments, and then consider yourself entitled to negotiate, well, anything whatsoever. They are being asked to tax their wealthy and cut their spending, which is the bleeding obvious. I am not sure on what basis Syriza was trusted by the Greeks to subvert that basic trait of any honest broker.