Tuesday , July 16 2024

Would today’s European leaders become Europe’s undertakers? by Giorgos Kontogiannis


Handelsblatt, one of the most reliable financial newspapers in
Germany, describes the Greek exit from the Eurozone and its consequences
on the European currency. The whole article resembles to a science
fiction scenario. It actually mentions that the Greek exit from the
Eurozone, would lead both to the Eurozone collapse, and the creation of a
new, more restricted zone of common currency among the countries of the
European south.

However, a situation like this would
generate a new series of problems which would alter not only the
financial but also the social and political European standards. Perhaps
the most important and unpromising consequence would be the definite
loss of a dream for a common European market, in the frame of a global
and dominant financial power. This would result in the political
dominance of those powers that not only dislike a united, vivid and
prosperous Europe, but also long for its dissolution and they are
–direct or indirect- adherents of the “divide and rule” doctrine.

today’s European leaders are not willing to comprehend this simple
logic. Even those who do comprehend it, they don’t have the courage to
set their European vision, which is also the vision of every EU member
country, above their narrow and transient personal interest. All of
these leaders are mostly interested in their political existence over a
four-year period or even less. However, by the end of this period, these
leaders will have been “bestowed” the title of EU’s “grave-diggers”.

we wish to understand it or not, the Euro’s power is still the dollar’s
greatest obstacle and Washington formulates its policy towards Europe
according to this reality. Many people have argued that Eurozone
collapse might have tragic consequences on the American economy.
However, they should take under consideration that the financial and
political structure of American authorities, renders the US economy more
flexible than the equivalent European financial and political
authorities, which are rigid and irresolute when met with a crisis. 
This means that in the USA, a decision will be taken faster than in
Europe, even if it has to be approved by two legislative bodies. In
Europe, the same decision would have to be prepared by the ministers of
finance, approved by the council of Heads, forwarded to the national
parliaments, ratified… In the meanwhile, crisis would have had a
non-reversible impact on everything. As a result every decision would
have been surpassed by developments and the need for new, harder and
more crucial decisions would have arisen, but even those would never be
able to be implemented on time.

If we accept the terrifying
scenario of the German financial newspaper “Handelsblatt”, which
describes the exit of Greece from the Eurozone, and of course we firmly
believe that Europe must in any case remain united, we therefore have to
fight for a direct solution of the financial problems (especially the
debt issues) that some EU member countries face, Greece being first and

The European partners taking decisions, must not only
take under consideration the endurance of the citizens in the countries
that face the problems, but also they have to be firm towards the
leadership of those countries, because some of their leaders might have
already started to discuss some alternative scenarios for the exit from
Euro. They are motivated either by their nationalistic political views,
either by their emphasis on foreign policy when they were or come to

Therefore, Handelsblatt has an actual point when it
foresees that the decision for Greece’s exit from Euro and its return to
Drachmas will be taken by the leader of the right party, called Nea
Dimokratia (New Democracy) who’s policy is obviously American-friendly.
It is also known that the appeal of Greece to the IMF and the delay in
the application of measures that Europe proposed to the country, are
decided by the also American-friendly prime Minister of Greece, Mr.
Giorgos Papandreou.

European leaders must not only comprehend all
the above mentioned but they must also adjust their policy to the
salvation of Eurozone. This salvation can occur from the healing of
Greek, Irish and Portuguese economies and also from the belief that the
political and financial existence of a united Europe is much more
important than the ephemeral political existence of its leaders.

every European must understand that the survival of Greece, Ireland and
Portugal is directly connected to EU’s survival and therefore to the
survival of every EU country. In case the European vision collapses,
then the path for USA aspirations is wide open, not to mention the
aspirations of the sleeping giant, namely China.