True, they have relinquished their sovereignty by joining the EU. when they get thrown out, they can repay with worthless Greek paper. Ever notice that only a few countries are allowed to do this? The rest of my response for another time.
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True, they have relinquished their sovereignty by joining the EU. when they get thrown out, they can repay with worthless Greek paper.”
Well, they have and they haven’t - relinquished their sovereignty. That’s the problem. The EU is in about the same spot that the U.S. was when the Articles of Confedercy was in effect. We had to fight a civil war to resolve the question of Federalism. It’s my guess that eventually Greece will drop out and revert to the Drachma and print, print, print till it’s worthless. Then, “perhaps” Greeks will see the light - but, I wouldn’t bet on it.