If the German Finance Minister Schäuble says that the eurozone would survive Greek exit, it means that such scenarios are no longer the domain of journalists and become a task of practical financiers.
Wolfgang Schäuble added that he wants Greece to stay in the eurozone but only on the condition that the country will live up to obligations. While addressing his fellow countrymen, he stated that the eurozone is now more resistant than two years ago. The Minister’s optimism is forced and I do not share it at all. If it happened that the Greeks left the eurozone, it would be the first treaty step towards disintegration. In many areas Europe does not present the same level of integration (e.g. Schengen) but the Greeks would be the first to take a step back.
What will be the psychological and political consequences of such a movement, no one knows, but Eurosceptics across the continent will then get the wind in their sails.Author : Marek Siwiec MEP