Wall Street Journal
November 2, 2011
Europe's leaders, making plain that they've reached the end of their patience with Greece, demanded that the beleaguered nation declare whether it wanted to remain in the euro currency union—or risk going it alone in a dramatic secession.
"Does Greece want to remain part of the euro zone or not," German Chancellor Angela Merkel said. "That is the question the Greek people must now answer."
The extraordinary rupture with the rest of Europe—whose leaders have insisted for months that an exit from the currency union is simply inconceivable—follows Greek Prime Minister George Papandreou's stunning decision Monday to call a referendum on his country's bailout.
Given the deep unpopularity of the budget-cutting measures that have accompanied the bailout, a "no" vote is a real possibility. That could send Greece, and possibly the euro zone itself, into chaos.
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