11/12/2008 10:33:50 am
Greek Riots. The violent demonstrations in Greece reflect a long-term dissatisfaction with the mess of Greek politics - as this FT leader points out. There are, however, voices that would like to blame the EU and the euro. This is completely wrong. If anything, first, the EU - or rather its predecessor, the EEC - stabilized Greek democracy. Second, EU institutions have brought a much better economic framework to Greece. Third, the euro has provided Greece with monetary stability. If Greece was not part of EU or the euro, it would have had much more severe problems.