Greece is just the most extreme version of a larger problem. The creation of Europe as an entity was built on certain premises. I've been reading a lot about it lately, and Europe was built on the thought that 1) common features were needed for mutual defense against an external threat and 2) to prevent another war as devastating to the victors and losers alike as the Second World War. What it was not built upon is any sincere regard for popular sovereignty.

The crisis as we see it now, then stems from the fact that the two reasons needed for a common Europe have vanished. I don't think most Europeans live in fear of military powers abroad and the new generation has no recollection of the horror of the war years.

So the Europe of the elites that previous generations accepted seems farcical in light of failing economic conditions, and it isn't surprising that nationalism is on the rise, and a number of people predicted the renationalization of Europe and splitting into blocs.

If Europe wants to be a single entity, it's going to take a lot more popular sovereignty, a lot of social welfare relief, and the rich nations agreeing to pay for the poor ones. I'm not saying it because I endorse that, but just from seeing how the Marshall Plan built western Europe in a more American image, so too would some plan have to exist to build the EU into a true federal state.

But between the weight of history, the corruption of the bureaucrats and bankers, and the lack of political will, I sort of see the fragmentation of the union into several blocs as the result.

And for Greece, I think you guys are going to go it alone, but that's not necessarily bad. It's an opportunity if you use it.