The reason that we cling to Europe, the EU and the Euro despite all our suffering and however much we attribute to their poor handling of our present predicament, is that with all the disillusionment we have in the capacity of our own governments and our institutions, imperfect Europe remains our beacon of hope.
The Greek government has squandered all its goodwill within half a year through a combination of arrogance, belligerence, naivety and utter incompetence. It set out to restore the "dignity" of the Greek people by "liberating" them from the alleged stranglehold of the Troika, while in the process "transforming" Europe into a more equal and just continent. It has achieved neither.
Jamaica has become a terrible example of what can happen when creditors, led by the International Monetary Fund (IMF), are able to impose harsh austerity on a trapped nation in an attempt to collect on an uncollectable debt. Since the U.S. Treasury Department decides what the IMF does in the Western Hemisphere, Obama himself can claim responsibility for this failure.