In any case, the euro seems to offer these countries no credible way out of the mess they are in. When Greece and other developing nations were fast tracked into what was then the European Economic Community, it was essentially for political and strategic reasons, to foster democracy, non aggression, European integration, and liberal values. These were noble ambitions. The great irony is that with the advent of the euro, they have been turned on their heads. The EU is today having the opposite effect. Instability and fragmentation have replaced consensus and cooperation.