SUPER | DISCO | CHINO

It was not the behaviour of the eurozone’s southern members that first plunged the single currency into crisis.

There was, from the beginning, a way for the EU to police the economies of member states by following the rules that had been laid down for the single currency in the Maastricht Treaty.

It was called the Stability and Growth Pact, and it was not Italy or Greece that torpedoed it - it was Germany.