Grexit please

Since it gained its independence from the Ottoman Empire two centuries ago Greece has always lived beyond its means and has been a persistent defaulter on its debts.

It was therefore no surprise to any economist when the European Union refused point-blank to allow the country to join the euro when the new currency started in 1999.

But Helmut Kohl, to demonstrate post-unification Germans were good Europeans, had engineered the entry of Italy to the eurozone so the floodgates were in fact wide open.

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Greek debts were known to be astronomic and its inflation out of control but it was waved in and immediately went on a mind-boggling spending spree which included the Olympics.

There is no chance this Club Med banana republic will mend its ways so Europe has the problem families face with a drug-addict who must in the end be shown the door.

John Cameron (DR)

Howard Place

St Andrews

KY16 9HL