Greece must search for redemption on its own

Greece cannot be saved by austerity policies. There are worse things than an exit from the eurozone, writes Ray Kinsella , and one of these is remaining within it on these terms

The meeting of the eurogroup of finance ministers on Friday did nothing to resolve the Greek dimension of the eurozone crisis. There was no ‘resolution’ to the crisis — just another series of processes that paper over the internal contradictions and inequalities which now characterise the eurozone.

The Greek government has spent the weekend drawing up yet another list of ‘reforms’ which will be reviewed today by the troika, while Syriza presents the Greek parliament with a deal that falls well short of the anti-austerity mandate on which the party was elected. Even then, there are no guarantees. The deal enforced on the Greeks must be ratified by national parliaments before the end of the month. And only then will talks with creditors begin.