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Speaking at the Athens policy forum on March 9, Senior Scholar James K. Galbraith noted that Greece is effectively powerless in its present situation because what’s being done within the country—a program of austerity that has led to widespread poverty and the highest unemployment rate in the European Union—is dictated and constrained from without. Real change, said Galbraith, will come about only when the north of Europe realizes that things cannot continue. At that point, Germany in particular must decide whether to save the eurozone with a policy of solidarity and mutual support, or to follow what is an emerging political tendency, which is to effectively break the eurozone in two.

Click here for a video of his remarks.