EU Meeting on Greece cancelled

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It appears the never ending story of Greece is to continue. A supposed ‘crunch’ meeting of EU leaders has been cancelled this afternoon. It is unclear at this point if it is because a deal is close, or more likely, not close at all. The BBC’s Jonny Diamond in Brussels has stated the nature of the cancellation is very unusual. The talks that went on into last night have been described by an EU spokesman as ‘Very Difficult.’

This approach of delay after delay after delay is typical of the European Union. However if a deal is not done soon Greece will go bankrupt and a decision will thankfully be forced. The big problem is there is no mechanism in the EU treaties to force Greece out of the Euro if it will not go voluntarily. The irony is the Greek PM’s proposals lead to more austerity than the Greek people rejected in their referendum a week ago. Many Greek people will rightly be wondering what the point of that was. The whole thing shows the EU up as the anti democratic force it has always been. However the Greek U-Turn shows that with the world in the level of debt it is, their really is no alternative to austerity in Europe right now,

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