By Ellopos Blog

Some argue that Europe is obliged to cover the Greek financial problem. Others accept that Europe has nothing to fear from a Greek bankruptcy, and any time can terminate all support.

Regarding the position of Europe right now on the Greek problem, both views are partially correct. Financially, at least in the short term, the Union does not run any risk if Greece defaults. But it is known that global economy does not function in the same manner as a grocery store. The treasury of the Union will not collapse because of the Greek bankruptcy, but the European stand in the international community will collapse, and this won’t be just an external and temporary impression that deceives: Greek meltdown can not occur except as a harbinger of the disintegration of the European Union and as a proof that essentially this dismantling has already begun, eating away the European body. Apparently this will get soon the corresponding financial expressions, even if momentarily Germany continues to export as before.

Ahead of any interpretation, the very fact that a political entity tolerates a part of it, which is a whole and historical people, to fall into poverty, proves the existence of some weakness. Then the interpretation is called to determine whether this happens because the Union is indeed weak and can not respond to the problem, or, even worse, if it has the power, not wanting to use it. The second is worse, because it demonstrates the existence of primary disruptive impulses before the external pressure of any needs whatever. And the problem proves even worse precisely because Greece does not have but only a small population compared to the rest of the Union, so that if Europe does not want or is not able to respond even to this problem, one immediately concludes the nature and the prospects of the European Union. Even if the interpretation tries to lighten the things, assuming a sort of ‘punishment’ and ‘pedagogy’ of Greece for its bad financial policy in the last decades, it will immediately need to answer why towards such a disastrous policy the Union did not act proactively. Again, the fact that Greece does not have a powerful state but is a small country more or less obedient to the decisions of France or Germany, worsens the conclusions of the question.

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