Grexit deal

It looks as if another deal to avoid a Grexit will be concocted but it will do nothing to solve either the absurdity of Greek membership or the fundamental flaws of the Eurozone itself.

It has made things worse for almost everyone but impossible for most of the Mediterranean republics which cannot survive on the same currency and exchange rate as Germany.

The only way a monetary union can work is if it is accompanied by a full fiscal, economic and political union – in fact, a single European state which virtually no European wants.

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The original Eurozone promoters knew it would produce a crisis which could be solved only by moving to full political union which for them was the object of the exercise.

This despicable piece of gaming led to not just a crisis but a disaster for Greece, whose only hope of salvation is an orderly exit from the Eurozone if such a thing is still possible.

(Dr) John Cameron

Howard Place

St Andrews