&gt; The Greek debacle, which was probably the biggest failure of the EU since its creation, was created by the EU&#x27;s banking and finance industries.<p>Exactly. Greece was merely the scapegoat for the bailout of the massively over-leveraged banks that bet against their sovereigns when they saw the Euro would equalize risk.<p>For a much better explanation of how the EU got into this mess, see the this[1] talk by Mark Blyth (Econ prof at Brown).<p>[1] <a href="https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=B6vV8_uQmxs#t=777" rel="nofollow">https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=B6vV8_uQmxs#t=777</a>