Jun
11

Keeping Greece in the Euro May Have Nothing to Do With Finances

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Angela Merkel, Alexis Tsipras and Francois HollandeAngela Merkel, Alexis Tsipras and Francois Hollande at the sidelines of the EU – Latin America summit, June 10. Photographer: Guido Bergmann-Bundesregierung via Getty Images

A bronze statue of Harry S. Truman stands unguarded in the side of a busy Athens road, a reminder of Greece’s post-World War II position as a strategic bulwark for the U.S. and Europe.

If euro-area policy makers overcome their frustration over Greek financial brinkmanship and cough up more aid, it will be in no small part because of that role.

“Greece’s geopolitical potential has been used as a promise, but mostly as a threat,” said Eirini Karamouzi, lecturer in contemporary history at Sheffield University and author of a book on Greece’s relationship with Europe during the Cold War. “There’s always been the threat of a catastrophic spillover effect if Greece was left to its own devices or, worse, turn into a failed state in Europe’s backyard.”…

Keeping Greece in the Euro May Have Nothing to Do With Finances

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