Should Greece leave the eurozone, the country would revert to the drachma. The government would print the old currency en masse, which would rapidly devalue. The crisis would deepen, and the EU members would be forced to continue their support.
Greeks have long viewed the German finance minister as a symbol of failed austerity policies. But Athens is by no means joyful now that Wolfgang Schäuble is leaving after eight years in office, says Jannis Papadimitriou.
The economic outlook for both the eurozone and the EU as a whole is increasingly upbeat, says the European Commission. Although concerns remain, the crisis of recent years seems to be finally over.
Greek Prime Minister Tsipras has said his country is no longer in danger of Grexiting - leaving the EU - and is seeing an inward investment boom. He said he is hopeful after nine years of recession, but questions remain.
Times are getting tougher in Greece, but there is no real danger that an EU country will be left to flounder in election year 2017, writes Georg Matthes.
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