Greece should seize Germany’s botched offer of a velvet Grexit

One day we will learn the full story of what went on at the top levels of the German government before the villenage of Greece last weekend.

We already know that the EMU accord – if that is the right word – is an economic and diplomatic fiasco of the first order. It does serious damage to the moral credibility of the EU but resolves nothing.

There is not the slightest chance that Greece will be able stabilize its debt and return to viability under the Carthaginian settlement imposed on Alexis Tsipras – after 17 hours of psychological “water-boarding”, as one EU official put it.

A children's tea party is held in an East End street in London, to celebrate the Treaty of Versailles at the end of the First World War

A children’s tea party is held in an East End street in London, to celebrate the Treaty of Versailles at the end of the First World War

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