The reasons why the Greek crisis was so profound and long-lasting, and why Greece was currently the only country that had yet to emerge from memorandum programmes, were the focus of a Eurobank analysis unveiled on Wednesday.

It was a sunny spring day exactly four years ago, when then prime minister George Papandreou stood in front of the camera with the beautiful island picture of the Kastelorizo port in the background and announced to the Greek people that state borrowing had become unattainable.

In his new book “Betting for Europe”, published on Monday, American investor George Soros launces a fierce attack against Chancellor Angela Merkel and German Finance minister Wolfgang Schauble's handling of the European economic crisis and particularly the way their policies affected Greece.