By Tim Montgomerie
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Last week's Eurozone deal was only ever going to be a sticking plaster solution. The level of Greek debt went from deadly before the deal to still murderous afterwards. The overnight news that the Greek people will get a chance to reject that deal in a referendum will deeply unsettle global markets.
“Are we witnessing the turning point in the Eurozone crisis? Surely Greece must now leave the Euro. It is clearly incapable of bringing its deficit under control. The Greek people simply do not wish to change the ways that put them in this situation in the first place. Even if Papandreou wins this battle, there is too much organised opposition for him to win the war. Democracy and the Eurozone are becoming antonymous. The Greek people should be entitled to set their own economic policy, but the cost of the retention of their democracy must be their exit from the Euro. German taxpayers are also sick of the Greeks constantly looking a gift horse in the mouth. Something has to give. If the Greeks wanted to control their economic destiny then they should have joined the UK in staying outside the single currency. President Sarkozy said last week that Greece should never have joined Euro. Now is time to correct the mistake.”
Callanan and Boris Johnson are willing and able to say what Cameron and Osborne do not.