''The banking system is insolvent, credit is plummeting, the flight of capital continues unabated and businesses are going bust in record numbers. As long as Greece remains in the euro, there is no plausible path back to growth.
With François Hollande now elected in France, Mr Tsipras seems to believe there’s a wind of change blowing through Europe that promises to sweep away the old austerity and replace it with a new era of fiscal expansionism. He hopes for a kinder, more considerate eurozone that will allow Greece both to escape austerity and stay within the single currency. In pitiful defence of their European credentials, Greeks cling to the dream of the euro, but vote for parties that repudiate the conditions attached to its membership.''
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