It is a Greek tragedy that Yanis Varoufakis has had to fall on his sword for the requirement of a more subservient relationship with Eurozone leaders.
He had that very rare gift of being an economist with a practical and sensible mind for real world problems.
In his place at the negotiating table will be Professor Euclid Tsakalotos using his Oxford PPE to try to “square the financial circle”, as has former PPE student David Cameron; the enigma being how can austerity lead to prosperity?
No amount of changing the label on the bottle from “Greek olive oil” to “debt restructuring” will metamorphose the problems. Watch this space!
The Greeks are to be congratulated on showing the courage to stand up to those who would oppress them with excessive austerity measures. Would that Scotland had shown such bravery last September!
If my memory serves me right, the economic miracle which is Germany only came about because their debt was written off after the Second World War.
Remembering that, you would think the Germans would be more generous. If Greece’s debt were to be cancelled, it is possible we would see another economic miracle – it could be the encouragement they need.