European leaders have let their own hubris dominate their response to the Greek crisis. A total bailout of Greece would only cost the European Union 2 per cent of its GDP

Danielsson, Jon

(2012) European leaders have let their own hubris dominate their response to the Greek crisis. A total bailout of Greece would only cost the European Union 2 per cent of its GDP [Online resource]

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The European leaders who established the Euro were guilty of political hubris, which blinded their vision of the common good. Jon Danielsson argues that their successors are repeating the same mistake of ‘hubrisk’ in trying to resolve the sovereign debt crisis.