Tagged: Syriza

I note with some concern the election in Greece of Syriza. Whether it actually proves a disaster will depend on the European Union – and Angela Merkel in particular. I argued when the Euro-crisis first emerged that there were only two broad solutions – either for the countries in trouble to leave the Euro and devalue their currency until they were competitive in the markets again or for the Eurozone to become to become one fiscal unit – a United States of Europe, if you like, with, for example, harmonised tax rates and one collective Euro-debt (not exactly fair on …