Jam Dams, deputy economics and financial editor of Die Welt newspaper, argues that the eurozone cannot afford another fudge agreement in relationship to the Greek bailout.
Dams says Greece either has to be compelled to undertake genuine reform, especially of the justice system to fight corruption or cronyism, or it needs to leave the eurozone.
Dams says that continuing the Greek bailout fiasco may keep the eurozone technically functioning but it will be at a high political cost that will ultimately undermine what little remains of acceptance of the euro.
The latest austerity package passed by Alexis Tsipras in Athens will turn the country into a failed state as the productive sector is decimated while corruption and cronyism remains rampant, repelling foreign and domestic investment.
This disastrous collapse of the Greek economy through high interest rates and mismanagement is financed to the tune of hundreds of billions by European taxpayers with the complicity of the EU.