Under the current structure, European policy often reflects German influence, albeit forged by a consensus. In this, Greece is right to point out the lopsided nature of EU policy deliberations, especially when they overrides the democratically expressed wishes of a country’s citizens. Its approach, however, is abrasive and ultimately divisive.

The battle over Greece’s debt points to the problematic nature of the EU’s political structure. In the early 21st century, it increasingly looks like the Holy Roman Empire, which lasted roughly from the 9th century to 1806. In its late period, the Holy Roman Empire was a ramshackle affair, marked by a weak political center, a loosely held coalition of states stretching across much of Europe and a battleground for outside powers. Greece’s new geopolitical direction will not by itself dismantle the EU, but it is a force pulling against the political center.

Voltaire is credited with stating, “The Holy Roman Empire was neither holy, nor Roman, nor an empire.” What Greece debt politics are amply demonstrating is that while the EU is “European,” it is struggling to be a union.

Scott MacDonald is the Head of Research for MC Asset Management Holdings, LLC, a wholly owned subsidiary of the Mitsubishi Corporation. The views expressed are his own and may not reflect those of MC Asset Management Holdings, LLC, the Mitsubishi Corporation or their affiliates.

Image: Flickr/ Υπουργείο Εξωτερικών/CC by-sa 2.0