Cameron has been 'crass and insensible' over eurozone revolt

摘要

After the euphoria that accompanied last week's announcement by Chancellor Angela Merkel and President Nicolas Sarkozy of their success in negotiating a painful 50% haircut of Greek debt and a new €1 trillion fund designed to warn off the speculators, markets have woken up to the realisation that the deal was not the end, nor was it even the beginning of the end of the euro affair. As ever, eurozone leaders simply edged closer still to the day when Greece will have to take a leaf from Argentina's book and leave, and €1 trillion will simply not be enough. This is because there are not just one, but several elephants in the eurozone sitting room.