''Τhe Greek tragedy must not go on. Europe’s growing frustration with
the new Greek government has triggered calls for stopping negotiations
and even accepting “Grexit”, Greece’s exit from the euro. We believe
that this would be a mistake. Grexit would be a collective political
failure. Above all, it would cause a social and economic catastrophe for
Greek citizens.
However, keeping Greece in the euro area at the cost of citizens of
other countries, without a serious and credible commitment by the Greek
government to reform its economy and its institutions, would be a
collective political failure as well. It would not only erode further
the credibility of Europe’s institutions and its architecture, but as
well the roots of European integration, which was based from the
beginning on the respect of common rules. The national sovereignty of
each member state must be respected. But in a deeply integrated Europe,
sovereignty is increasingly shared, rather than national..''
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