Friday 18 August 2017

Beware the four horsemen circling Europe: Greece, Russia, migrants and Brexit

Greek Prime Minister Alexis Tsipras, Italian Prime Minister Matteo Renzi and German Chancellor Angela Merkel share a joke before getting down to negotiations at the EU leaders' summit in Brussels
Greek Prime Minister Alexis Tsipras, Italian Prime Minister Matteo Renzi and German Chancellor Angela Merkel share a joke before getting down to negotiations at the EU leaders' summit in Brussels

Rem Kortweg

Four horsemen are stalking Europe: the Greek financial crisis; illegal migration in the Mediterranean; Russian aggression; and Britain's reform, or Brexit threat. Any of these could alter the fundamental character of the Union.

The risk of a Greek default and possible Eurozone exit poses the most acute danger. Grexit would have unforeseen implications, not only for Greece, but also for the EU. It would question the Eurozone's overall direction towards greater integration and have possible knock-on effects for other weaker members of the euro.

As a deadline approaches for Greece to repay the IMF €1.6bn, it seems that one side may give in.

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