A Very Good Question: Why does Europe Want to Keep Greece?

This article is a real interesting think-piece.

It's easy to understand why the Greeks want to stay in the euro: They need the regular infusions of cash from creditors. The attractions for Europe seem much more elusive. Greece is not exactly a stellar export market right now. Tourism and Greek goods would probably be cheaper for Europeans if Greece were to exit. And if they stay in, the best-case scenario is probably that Greece turns into something like southern Italy -- a poor cousin that never seems to develop no matter how much money is funneled into it. The worst-case scenario is that in a couple of months, or a couple of years, they'll be back around the table negotiating yet another round of emergency measures.

Europe has thrown good money after bad three times so far. Why do they think another $80 billion will put Greece back on their feet anytime soon? The austerity measures seem pretty draconian and the Greeks might need to sell their ruins and seaports to put in some fund.

I can understand that the Germans just want to cut Greece loose and take the loss on paper rather then having to pump money endlessly. The whole idea of contagion has been dealt with. It seems that the countries that were bailed out earlier had the loudest voices toward a "Grexit."

I mean if it were because Greece was a great vacation destination they could have been able to afford it on the cheap if the dracma returned. There will be short term pain but in the long run Greece might start to grow again. Kind of like when a person goes bankrupt they have to endure some pain before they don't have that crushing credit card bill to pay every month.