It seems that Greece initiated a new dynamic of European financial systems. It has been reported that Angela Merkel has reached the point where she can defenselessly watch how the European Union is crumbling down.
The summit in Brussels acknowledged that the EU does not operate in a suitable manner. Number of EU institutions have fallen under the wing of Troika and have failed completely.
The ECB, the IMF, the EU Commission have devoted themselves to a pure austerity policy of increased taxes and reduced social benefits. However, these can hardly be implemented in practice.
Furthermore, the EU member states are not united in one goal. Not all want the Europe of austerity, Southern countries want growth.
Francois Hollande stated that he wants Greece to stay in the Eurozone. On the other hand, Merkel and Schäuble preserve different point of view.
Other small European countries are becoming skeptical about the future of Europe and fringe political parties are gaining more popularity.