Published on 23 May 2012 by RussiaToday
EU leaders gather for an informal dinner in Brussels, but the main course will undoubtedly be the Eurozone’s crippling debt crisis. There’s a growing belief that the austerity driver heralded by France and Germany has backfired, sending weaker countries into a spiral of decline.
Reports say single currency member nations are preparing back up plans for the consequences of a Greek exit. France’s President Hollande wants the strategy to shift to growth – something Germany’s reluctant to agree with. Both sides have to search for a compromise ahead of what could be a decisive 2nd Greek election in June.
John Laughland, the Director of Studies in the Institute of Democracy and Cooperation, believes the EU tries to control Greece by giving it no other choise but austerity.