A New Oxi Day: Greece Stays Sovereign

In what might be considered an echo of Oxi Day, now more than 70 years on: the Greek government has rebuffed a German proposal to cede control of its finances to the Eurozone. To have accepted, many observers believe, would have amounted to giving up no small measure of national sovereignty – for which there is no popular support.

It is surprising that, even in light of Europe’s 20th century history of conflict and mistrust between nations, some governments in Europe still do not seem to understand how their paternalistic and heavy-handed demands might be perceived by others.

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