Solana's arguments make sense! Within the European Union, the "sovereignty" of each member state "does not negate interdependence". The EU functions like a big family and relies on cooperation among member-states in diverse areas. In order to guarantee peace and prosperity they are committed to working together.

It's true that the "myth of sovereignty has been perpetuated for far too long in the EU", starting with the proposal of a constitution in 2001 to replace earlier EU treaties. It was drafted by former French president Giscard d'Estaing and rejected by French and Dutch voters. He then rewrote the document saying what the EU could and couldn't do, and how a member state could leave etc. Yet the hope of developing the existing federal elements was not a priority! Instead it said that the peoples of Europe were determined to be united ever closely and to forge a common destiny. It alarmed Eurosceptics because it was prone to different interpretations. They feared handing too much power to the EU president, undermining the sovereignty of member states.

Before the financial crisis in 2008, the concern about the EU's "democratic deficit" was not eminent. The integration had been a "harmonious, ordered, and just process. Less wealthy member countries benefited from tools like the Structural Funds and the Cohesion Fund". There had been a housing bubble thanks to cheap loans and much squandering on bloated public sectors and social largesse. When the "sovereign governments of Greece, Portugal, Cyprus, and Ireland requested bailouts from their European partners" the lenders imposed austerity measures.

After years of struggling Ireland and Portugal could leave the bailout behind in 2013 and 2014 respectively. With a debt 175% of its GDP, Greece was hardest hit. The outlook for its recovery was good in 2014. Investor sentiment was up, with the government announcing an expected return to growth and some cuts in austerity taxes. Yet the Greeks had enough of hardships imposed on them by "external powers" and decided to end them. They wanted to ditch the harsh austerity measures and demanded a major debt write-off by the Troika.

As Greece's creditors will not benefit from its default and the costs for a Grexit would be too costly for the19 eurozone states, both sides have to find a "middle ground" to resolve the crisis. It is imperative that both the EU and Greece forge structural reforms for the Eurozone to survive in the long run.