[marksweston]

In as much as this analogy is useful: when you lie to the lender about your income, spending and ability to repay the loan, you have committed fraud.

But the EU is supposed to be an a collective of allies and partners, not a network of purely financial transactions. In that context surely the shame belongs to the partner that betrays the trust and confidence of its friends?

Not that I'd argue that Greece "deserved" everything that happened. But this line of argument seems to justify a complete refusal of responsibility on Greece's part.