This is only the BEGINNING of the Euro crisis
Former foreign secretary William Hague has broken cover to urge Greece to abandon the Euro or be stuck in a 'permanent crisis'.
Mr Hague, who stood down from politics at the election, said Greece had no chance of turning its economy around within the single currency unless Germany agreed to hand over big subsidies 'forever'.But the former Tory leader went even further, warning that the 'Greek debacle of 2015' will not be the end of the euro crisis 'but its real beginning' – eventually dragging in Italy, Spain, Portugal and other southern European countries.
Mr Hague said Germany will have to pay Greece 'big subsidies forever' to keep the currency together.He said that even though the hard-left Syriza government has rejected 'reasonable terms' in return for a bailout the crisis is not the fault of the Greek people.'Greeks have experienced the loss of one quarter of their entire national income, following an unsustainable inflation of spending and debt which Eurozone membership facilitated.'The responsibility for this crisis lies with their own former leaders and those around the EU who gave them euro membership when they were not remotely suited to it, a triumph of political desire over dispassionate economic analysis for which ordinary people are now paying the price.'It is no good now expecting Greeks to sit quietly in a burnt out room of the burning building I described seventeen years ago.'He urged European leaders to accept that the problem in Greece 'is not a short term crisis, but a permanent one'.
Read more: http://www.dailymail.co.uk/news/article-3151947/This-BEGINNING-Euro-crisis-William-Hague-warns-Greece-debacle-minor-rehearsal-coming-crash.html#ixzz3fF8xXQsH
Follow us: @MailOnline on Twitter | DailyMail on Facebook