Greek drama heightens debate on economic co-ordination

The Greek drama currently being played out in financial markets across the globe has brought the eurozone's weaknesses into sharp relief, with greater economic co-ordination increasingly touted as a possible solution.

The recent financial crisis has also served to highlight the multitude of structural flaws embedded in the wider EU economy, with the bloc's permanent president, Herman Van Rompuy, amongst those advocating a European 'economic government'.

Greater convergence of eco...