David Cameron may have won his battle to keep Britain out of a second EU bail-out for Greece – but that doesn’t alter the long-term inevitability of Greece’s departure from the eurozone. There are two claims I hear repeated about Greece that I’d like to take this opportunity to knock down. The first myth is that Greece would gain nothing from leaving the euro because its debts are denominated in euros. But that claim misses the point. Leaving the euro would take the form of the government passing a law to redenominate all Greek debts (at least all government and banking sector debt, but quite possibly all private ... (full story)