Greek lesson as unions strike

That said, the turbulence throughout Greece does have far-reaching consequences. While Mr Cameron’s government must honour its International Monetary Fund obligations, Ministers will be far more wary if George Papandreou’s administration, or any other bailed-out country, defaults on their repayment terms.

This is also not the time for rash judgments on the future of the euro or Greek finances; the challenge is for the EU, and others, to bring about the stability that Europe’s economy so desperately needs.

It’s not as if Britain can continue writing a blank cheque whenever it suits. It cannot, hence why the coalition is having to make far-reaching reforms to public sector pensions that have precipitated today’s strike by Civil Service unions, teachers and others.

Some union leaders are clearly spoiling for a fight. Others, like the ATL, are reluctant participants. But, in many respects, they would have been far better taking their lead from the NASUWT which is committed to continuing a dialogue with the Government throughout the summer.

That is the responsible course of action – far more so than Ed Miliband courting the unions ahead of Labour’s leadership contest and then having nothing constructive to say on this issue at Prime Minister’s Questions yesterday.

Perhaps Labour’s leader appreciates, finally, the calamitous financial legacy that the last government – of which he was a prominent member – bequeathed to the nation. Nevertheless, Mr Cameron’s coalition should have foreseen its difficulties over the ripping up of contractual commitments and approached matter in a less provocative way.

Constructive dialogue is the only way forward rather than a day of industrial action that will entrench divergent opinions still further and make it even more difficult for a consensus to be reached that balances the country’s fiscal needs with an acceptance that the “squeezed middle” can only take so much financial pain.