In October 2012, the EU celebrated 20 years of the Single Market created by the Maastricht Treaty. At the same time, the Eurozone economy contracted for the first time since 2009 signalling that the crisis in Europe has still not been overcome. The most significant contraction has been in peripheral Eurozone countries with the unambiguous champion, Greece, already in its fifth year of recession. This is one of the longest recessions in a developed country in history. So, does Greece have reason to celebrate the Single Market’s 20th anniversary? Or is the current crisis connected to Greece’s