Greek debt crisis shows weakness of European Union based only on finance, Vatican newspaper argues
July 06, 2015
L’Osservatore Romano has said that the Greek debt crisis should prompt reform of the European Union.
"The Greek failure may be an opportunity to define a new concept of Europe," the Vatican newspaper suggested on July 6. The current system “has to change, even at the cost of painful choices” such as a Greek exit from the Euro, the paper said.
L’Osservatore argued that there is a growing gap between the leadership of the European Union and the common people. The resulting tension, the paper said, has been “fueling phenomena such as nationalism, the extremes of confrontation, and the emergence of new players.”
A healthy European community, the paper continued, must be based on real integration, not merely “banking union or financial unification.”
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