EU based on bullying by the big economies
The 2007 recessions in the Eurozone, and elsewhere, were not caused by governments with excessive deficits or by national debt, nor even by the astounding levels of tax evasion, corruption, cronyism and sheer incompetence of the Greek establishment, as voted for by the Greek people, over generations.
The crises were caused by the financial services sector. The argument that there should have been firmer regulation misses the irony that the financial services should be honest regardless, but human nature being what it is, where there’s money there is greed and greed thrives where there is weak regulation.