An Exit From Europe Would Be Our Own Greek Tragedy

by Panagis Vourloumis

Bloomberg
May 24, 2012

Greece is going through one of its periodic self-mutilations. After trying for decades to become a full member of the European Union, and succeeding, it’s doing its best to get thrown out.

With new elections due in June, the country’s two-party system has been shattered. A mosaic of smaller parties that are either openly anti-European or pledging themselves to policies that would drive Greece from the euro did well on May 6.

The last time there was such a major swing in the Greek vote was in 1981. Pasok, the socialist party led by Andreas Papandreou, swept to power on a slogan of “change” and exit from the North Atlantic Treaty Organization and the European Economic Community, as the EU was called back then. Nothing of the sort happened. Instead, Pasok went on to create a huge state sector and then to pack it with its own political supporters.

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