Eyes are back on Greece because of the meeting that its Prime Minister, Samarás, has on Friday with Merkel, Hollande and Juncker.
In reality, Greece never left the spotlight, but the euro zone tragedy is a multi-protagonist saga that uncovered the euro's weaknesses. Samarás wants to delay by two years the cutback plan that he has agreed to. Further, it is possible that he will have to make 2.5 billion euro more in cutbacks. The debate has fired up again in Germany, where politicians and the German public are not ready to grant concessions of any kind. Also, people are openly talking about Greece abandoning the euro.
Jean-Claude Juncker, the euro group president, presented this option for the first time several weeks ago, although he was pressured to make it clear that the euro group wants Greece to stay on the euro. Greece needs to meet its commitments to do so, and it looks like that will be a struggle. The biggest worry for nations that use the euro is how they would recuperate if Greece goes off the common currency. There are talks of an organized exit, but the ECB said that there would be inevitable negative consequences for umemployment in Greece and the rest of the EU.
EU leaders would have to have the political abilities so lacking recently in order to solve the problem. It was impossible to know what would happen when opening Pandora's box, and Europe is in the same position now.
