Greek tragedy will run and run

A painfully negotiated agreement may have staved off the immediate threat of Grexit, but the structural inconsistencies of the eurozone will be a source of uncertainty for years or even decades to come, warns David Rowe

David Rowe

Upon crossing the Rubicon in January of 49BC, Julius Caesar is reported to have uttered a Greek (not Latin) phrase commonly translated as "The die is cast".¹ This does not mean "The metal template has been moulded". A better translation would be "Let the die be cast", or as Colleen McCullough rendered it in her massive Masters of Rome series, "Let the dice fly". Few words could better characterise the motivations behind the emphatic No vote in the Greek bailout referendum.

Greek prime minister