While it is obvious that the current painful negotiations between Greece and its creditors must come to a swift conclusion, a Grexit will ultimately cost Europe as much, or more, than a possible 'haircut' of Greek debt.
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With just a few months until the upcoming double elections in Greece, the political system has never been more in a state of flux across the political spectrum.
Greece continues to operate under a client-based political system that nurtures a nepotistic and bloated bureaucracy -- even after five years of crisis and cutbacks.
News of the 10-billion-euro bailout for Cyprus should not be cause for celebration. Europeans are rightly insecure about what comes next, as they should be given the precedent that has been set.
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