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I am beginning strongly to dislike the wave of what I call Euro McCarthyism. We get this spread of fear of what will happen to Greece if it leaves the Euro, without any evidence whatsoever. Just as Britain was warned of the unavoidable disaster of staying out of the Euro.

The single biggest problem if Greece leaves the Euro is that many Euro-rentier politicians and technocrats will enter into the declining phase of their careers.

The threat that Greece will have to leave the EU as well is further fear spreading and totally unfounded. There will always be several countries within the EU which are not in the Euro. If Greece leaves the Euro, there will be more. And for free-traders that will make for a better Common Market. The key problem in the northern hemisphere at the moment is not the precarious position of a handful of eurocrat politicians, but turmoil in North Africa. We need an economic trading network which embraces those markets (not very different from or less advance than Greece) which raises living standards through trade and intercourse, without saddling them with a north european currency, debt, and its own social benefits and pensions bankruptcy.

No-one seems to made the obvious remark that the banks would be open today if the Greeks had their own currency. Yparchei lefta? And what is the point of a "currency" if it is inaccessible? Greece is in default now: how best to get over it? With a currency that allows it to compete with Turkey, or with a currency that allows it to splurge on BMWs?

Blocism is a post war relic. It was the little ships that won the Battle of Salamis.