Eric Beinhocker, Columnist

Help Greece Leave the Euro

A managed exit could give Greece hope and restore European unity.

July 6, 2015 at 3:00 PM UTC

Eric Beinhocker is a professor at the University of Oxford’s Blavatnik School of Government and executive director of the Institute for New Economic Thinking at the Oxford Martin School.

Manage this.
Photographer: Chris Ratcliffe/Bloomberg

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The Greek people have voted "no," rejecting further austerity in exchange for another bailout. But the real answer to Greece’s problems was not on Sunday's ballot.

Voters were offered a Hobson’s choice between a miserable existence as a vassal state in permanent depression and a possible chaotic exit from the euro. If Greek and European leaders want to give the country hope for the future and restore unity to the region, they should lay out a plan to help Greece leave the euro, yet remain firmly in the European Union.