Demonstrators in Paris holding masks of (from left) Greek Prime...

Stefan Auer says the euro zone's basic principles of a shared understanding of democracy, a shared commitment, and promise of prosperity are under serious threat as the crisis enters its next phase Demonstrators in Paris holding masks of Greek Prime Minister Alexis Tsipras, German Chancellor Angela Merkel and French President Francois Hollande express their opposition to bailing Greece out of debt on Monday. Photo: AFP The Greek government's unexpected decision to call a referendum was bold and self-destructive, but also very clever.