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To Exit or Not to Exit - What Happens to Greece has Wider Implications

Whether or not Greece voluntarily leaves the euro zone, or is forced out; its retention depends on the receptiveness of the currency grouping to the democratic spirit of the Greek people. And if the oldest democracy is forced out, it would indicate a growing rift within the broader European Union(EU).

As a member of the euro zone - the grouping of 19-countries sharing the euro currency, Greece should be accorded all the necessary privileges to stabilizing its indebtedness and to securing new credit.

If the euro zone forces Greece out because of the democratically upheld vote of the Greeks to reject the terms of a proposed plan to debt stabilization, then the entire euro zone should be condemned for punishing the will of a free nation. Moreover, forcing Greece from the euro zone would paint the currency grouping as a dictating club bent on imposing its fiscal conservative economics upon the democratic sovereignty of members.

Therefore, in lieu of any confirmation of the euro zone acting as a dictator, the euro zone should continue to work with Greece with a view to stabilizing the nation's indebtedness while it remains within the grouping and with respect of Greek customs.

Should all efforts fail to accord Greece its full privileges of euro zone membership, it would confirm a fissure within the EU that would be affirmed and widened with a planned United Kingdom(UK) vote to exit the union.