Greece: Defining Political Moment for the Eurozone -- Consequence of Choosing Union or Confederation

This is the defining political moment for the eurozone – is it an economic confederation or a continent nation with member states? The Greek crisis is the political corollary to the financial crisis of 2008-09. The financial crisis revealed the ECB as more currency board than central bank and led to a series of reforms and regulations to transform the ECB into the bank it was portraying itself to be but really wasn’t. The main issue with Greece is not the resolution of how they repay their d...