As Greece officially today came out the other side of the ‘troika’, three way financial assistance scheme provided by the European Central Bank, the European Stability Mechanism (European Commission) and the International Monetary Fund and is now officially able to borrow money again on the open market, many are hailing it as Greece is safe now and Greece saved the euro.
People claim that by avoiding Grexit, Greece saved the euro. There are both pros and cons to Europe. Both Brexiteers and Remainers will fight their corner but the ‘dream’ of an equal rights, equal wealth distribution system across Europe are exactly that … ‘pipe dreams’. It is interesting that when Greece was in trouble, Germany continued to prosper and there was no “we’re in this together” it was still austerity and loans that will have to be repaid. Add to this Greece’s near neighbour, Turkey is now in financial crisis, what the repercussions are, only time will tell.