Greece puts the Eurozone to the test
Europe's austerity dictates are polarising Greece. After attempts at forming a government failed, supporters of the austerity measures achieved a majority in fresh elections. Can the next government stabilise the crisis-ridden country and keep it in the Eurozone?
Protagon - Greece | Thursday, 7. February 2013
During his tour of several European capitals, Peer Steinbrück, chancellor candidate of the German Social Democratic Party (SPD), made a stop in Athens on Wednesday. He promised the Greeks more solidarity and praised their efforts at austerity. The website Protagon warns the Greeks not to expect too much of this: » more
During his tour of several European capitals, Peer Steinbrück, chancellor candidate of the German Social Democratic Party (SPD), made a stop in Athens on Wednesday. He promised the Greeks more solidarity and praised their efforts at austerity. The website Protagon warns the Greeks not to expect too much of this: "The spirit of the SPD is doubtless different to that of the Christian Democrats. The language they use is different, and somehow they also manage to show respect for the Greeks. However whether they will demand that Angela Merkel change her policy regarding Greece in the event that they form a grand coalition with her party is another matter entirely. And quite honestly it looks like Steinbrück is giving exactly the same advice as all other rational people in Europe at this point: give up your old habits and change your country before it's too late."
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Ta Nea - Greece | Friday, 4. January 2013
The troika has advised the Greek government to debit taxes directly from the bank accounts of its citizens because the government has been unable to collect unpaid taxes amounting to 55 billion euros. An aggressive tax policy is generally the wrong approach, the left-liberal daily Ta Nea warns: » more
The troika has advised the Greek government to debit taxes directly from the bank accounts of its citizens because the government has been unable to collect unpaid taxes amounting to 55 billion euros. An aggressive tax policy is generally the wrong approach, the left-liberal daily Ta Nea warns: "The current government, like the ones before it, is caught in a vicious circle: it raises taxes to meet the demands of the troika. This also occurred with the real estate prices, the fuel prices and the VAT. But what is the result? Demand has dropped, the number of tax evaders has risen, as has the number of those who have no money to pay the taxes. This means that government revenues have also gone down. … The government must recognise its mistakes and find ways to combat tax evasion, which is the real problem. Otherwise this vicious circle will never be broken!"
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Main focus of Wednesday, 28. November 2012
The stock markets reacted with cautious optimism on Tuesday to the agreement on reducing Greece's debt. The package of measures must now be approved by ... » more
The stock markets reacted with cautious optimism on Tuesday to the agreement on reducing Greece's debt. The package of measures must now be approved by the national parliaments. While some see the package as well-deserved support for the long-suffering Greeks, others believe state bankruptcy would have been the best solution.
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Kurier - Austria | Wednesday, 28. November 2012
The new loans won't solve Greece's problems but they will help the speculators and Angela Merkel's election campaign, the liberal daily Kurier complains: » more
The new loans won't solve Greece's problems but they will help the speculators and Angela Merkel's election campaign, the liberal daily Kurier complains: "The ones who benefit are the gamblers in the hedge funds who can now be certain they have a bombproof deal. The Greek state will buy back its worthless bonds from them with the 'bailout' money from the rest of Europe. One can hardly imagine a more sophisticated form or redistribution from the bottom up. … And all this because it's politically expedient? In Germany, Angela Merkel is hoping to be re-elected in 2013. So from her point of view there can be no sustainable, i.e. expensive solution for Athens for the time being. Because that would mean the waiving of debts, and that would apparently be too much to expect of the German (and Austrian) voters. Merkel wants to avoid informing the voters of the true state of affairs at literally any cost. This is why this debt haircut in instalments is being stage-managed. But it won't make the least bit of difference to the plight of the Greeks."
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Jyllands-Posten - Denmark | Wednesday, 28. November 2012
The liberal daily Jyllands-Posten is less than enthusiastic about the agreement, arguing that national bankruptcy would have been the better solution: » more
The liberal daily Jyllands-Posten is less than enthusiastic about the agreement, arguing that national bankruptcy would have been the better solution: "The bitter reality is hard to swallow and politically inopportune, but the truth is that Greece, which lacks a sensible political leadership, would probably have been better off with an orderly national bankruptcy and an exit from the Eurozone. The economic decline after national bankruptcy could not be worse than the past six years of recession into which the debt crisis has plunged the country. Such a solution would have forced the Greeks to get their own act together instead of pinning the blame on the IMF, the ECB, the EU Commission and the governments in the other Eurozone countries. An improvement in the economy could be Greece's salvation, but the debt will be an intolerable burden on the country for decades to come."
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Le Monde - France | Wednesday, 28. November 2012
The agreement on a plan for reducing Greece's debt is praiseworthy indeed, the liberal daily Le Monde writes: » more
The agreement on a plan for reducing Greece's debt is praiseworthy indeed, the liberal daily Le Monde writes: "Even when the topic is Greece and its sovereign debt, the Cassandras are not always right. Although the Europeans have in general oscillated between irresponsibility and spinelessness on this issue, there are some occasions when a step has been taken in the right direction. And that's what happened in Brussels on the night of Monday the 26th. So much the better for the Greeks. So much the better for the Eurozone. ... That night the 17 euro countries decided on a package of complex financial measures, putting at Greece's disposal 40 billion euros in funds. If required, further measures can be taken to cut the country's debt to 124 percent of GDP [the target set for 2020]. The agreement is intelligent, because the goal is what counts, and what inspires confidence on the markets. And the agreement is salutary because the Greeks, who have gone through much suffering, well deserve it."
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Magyar Nemzet - Hungary | Friday, 16. November 2012
The EU Commission and the International Monetary Fund are at odds over whether Greece should be given until 2020 or 2022 to reduce its huge national debt to 120 percent of GDP. In the eyes of the conservative daily Magyar Nemzet, Greece won't be able to reach this target if it remains constricted by the stringent austerity policies it has been forced to adopt until now: » more
The EU Commission and the International Monetary Fund are at odds over whether Greece should be given until 2020 or 2022 to reduce its huge national debt to 120 percent of GDP. In the eyes of the conservative daily Magyar Nemzet, Greece won't be able to reach this target if it remains constricted by the stringent austerity policies it has been forced to adopt until now: "Since the European Union stipulated how the Greeks must handle the crisis, the country's national debt has risen to 180 percent (!) of GDP, three times the amount allowed in the Eurozone. ... And now the EU and the IMF are arguing about when this astronomical figure can be brought down to 120 percent. A hopeless situation. ... Hopeless because the EU and the IMF continue to ask for exactly what they have been demanding up to now, namely one drastic austerity package after the next. As a result of these austerity measures the Greek economy has shrunk by 25 to 30 percent within the last six years."
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Naftemporiki - Greece | Friday, 16. November 2012
According to the Greek government this Friday was the deadline for the country to receive the next credit instalment of approximately 31 billion euros without which the state would have to file for bankruptcy. Now, with a decision yet to be reached on when the instalment will be paid, it's clear that the threat was just a ploy, the conservative business paper Naftemporiki criticises: » more
According to the Greek government this Friday was the deadline for the country to receive the next credit instalment of approximately 31 billion euros without which the state would have to file for bankruptcy. Now, with a decision yet to be reached on when the instalment will be paid, it's clear that the threat was just a ploy, the conservative business paper Naftemporiki criticises: "According to the last warning of the prime minister and the minister for economic affairs, we will go bankrupt today. Before the vote on the new austerity package and the budget was held they warned that the state would go bankrupt on November 16 if the austerity measures weren't passed and Greece didn't receive the next instalment. They said the country would no longer be able to import medications or food, and that the international creditors would confiscate Greek ships in foreign ports! … These warnings were nothing but a communication trick that will lose its effectiveness if it is used every time the government wants to push through a harsh austerity package."
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Süddeutsche Zeitung - Germany | Thursday, 15. November 2012
According to reports from sources following the negotiations on Wednesday, the Eurozone countries are now considering using their national budgets to provide Greece with additional support because the bailout package planned for the country won't be enough. A disastrous scenario for German Chancellor Angela Merkel, the left-liberal Süddeutsche Zeitung comments: » more
According to reports from sources following the negotiations on Wednesday, the Eurozone countries are now considering using their national budgets to provide Greece with additional support because the bailout package planned for the country won't be enough. A disastrous scenario for German Chancellor Angela Merkel, the left-liberal Süddeutsche Zeitung comments: "Up to now the chancellor has signalled that there will be no additional money for Athens. If it does come to a situation in which in addition to waiving interest revenues or similar measures, real holes are wrenched in the federal budget, there will be a huge outcry in parliament. Government circles are no longer even trying to deny that the question of a debt restructuring of some form will arise. But not now please! The parliamentary elections take place in ten months' time! And one doesn't even like to think about the impact the prospect of debt relief would have on the Greeks' willingness to implement reforms."
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Der Standard - Austria | Wednesday, 14. November 2012
Euro Group chief Jean-Claude Juncker and IMF boss Christine Lagarde are at loggerheads over Greece's debt reduction schedule and a potential second haircut. The left-liberal daily Der Standard is not surprised: » more
Euro Group chief Jean-Claude Juncker and IMF boss Christine Lagarde are at loggerheads over Greece's debt reduction schedule and a potential second haircut. The left-liberal daily Der Standard is not surprised: "The IMF has an easier time telling the truth without beating about the bush. This is less to do with moral superiority than with accountability: IMF decisions are made behind closed doors. By contrast the politicians of the Eurozone are responsible to their electorates and must justify how they spend the taxpayers' money. And more importantly: the IMF has it easy because it doesn't have to bear the losses incurred by the different programmes. This standard but unwritten practice certainly merits a discussion. But for that the Europeans would have to first prepare the terrain by putting their cards on the table and explaining to the public that the loans granted to Athens will never be fully repaid. Time is ticking away. The last one picks up the tab."
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Main focus of Tuesday, 13. November 2012
The Eurozone finance ministers resolved at their meeting in Brussels on Monday to give Greece two more years to get its public deficit under control. ... » more
The Eurozone finance ministers resolved at their meeting in Brussels on Monday to give Greece two more years to get its public deficit under control. The decision on the next installment of bailout funds was postponed to next week. Commentators write that the creditor countries are simply playing for time and delaying the country's bankruptcy.
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Il Sole 24 Ore - Italy | Tuesday, 13. November 2012
According to the troika's estimates, by 2016 the delays in reducing Greece's deficit will have cost more than 30 billion euros. But unfortunately there is no consensus on how to compensate for these additional costs, the liberal-conservative business paper Il Sole 24 Ore complains: » more
According to the troika's estimates, by 2016 the delays in reducing Greece's deficit will have cost more than 30 billion euros. But unfortunately there is no consensus on how to compensate for these additional costs, the liberal-conservative business paper Il Sole 24 Ore complains: "The additional costs could be covered partly by reducing debt thanks to lower interest rates and partly by repurchasing debt or extending the maturity deadlines. ... It is no coincidence that the draft version of the troika report lacks a debt sustainability analysis. This is precisely the point on which the international creditors are at odds. The IMF wants a drastic debt restructuring to bring Greece's debt ratio down to 120 percent of the GDP by 2020, whereas the EU Commission and the European Central Bank want to reduce the debts with the aid of less drastic measures."
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taz - Germany | Tuesday, 13. November 2012
Although the troika has given Greece a positive assessment the Eurozone finance ministers have postponed paying the next instalment of bailout funds. Germany is playing for time in view of the upcoming elections and jeopardising more than just Germany's credibility, the left-leaning daily taz argues: » more
Although the troika has given Greece a positive assessment the Eurozone finance ministers have postponed paying the next instalment of bailout funds. Germany is playing for time in view of the upcoming elections and jeopardising more than just Germany's credibility, the left-leaning daily taz argues: "Since October [the German finance minister] Schäuble has known that it will cost even more money to bail out Greece. IMF boss Christine Lagarde gave it to him in writing: the mountain of debt is growing dangerously despite - or because of - the austerity policy. Without a new debt haircut or billions in additional aid Greece simply can't be saved. But with the start of the campaign for the next parliamentary elections, Schäuble and his chancellor prefer to play for time. In doing so they are endangering not only the Greek bailout. They are also jeopardising the credibility of Germany and the entire Eurozone. Merkel and Schäuble must finally recognise that their policy for Greece has failed, and that the bill for that failure will be hefty."
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Gazeta Wyborcza - Poland | Tuesday, 13. November 2012
The troika wants to give Greece two more years to consolidate its finances. But that will only postpone a real solution to the problem writes Marcin Mróz, chief economist a the bank BNP Paribas Polska, in a commentary for the liberal daily Gazeta Wyborcza: » more
The troika wants to give Greece two more years to consolidate its finances. But that will only postpone a real solution to the problem writes Marcin Mróz, chief economist a the bank BNP Paribas Polska, in a commentary for the liberal daily Gazeta Wyborcza: "With this move Europe is only trying to buy time in the hope that the situation in Greece will improve through a revival of its economy. But that's a risky bet, and Europe could easily miscalculate. The problems of Greece are the same as in Spain. In both countries drastic programmes have been introduced to consolidate the budget and save money, although that won't produce any economic growth. The programmes are just meant to buy time. ... You push the delay button and hope the economy will revive on its own."
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Kurier - Austria | Monday, 12. November 2012
The help from the donor countries is half-hearted and ultimately will only postpone Greece's bankruptcy rather than averting it, the liberal daily Kurier writes: » more
The help from the donor countries is half-hearted and ultimately will only postpone Greece's bankruptcy rather than averting it, the liberal daily Kurier writes: "Greece will continue to receive help to avoid its going bankrupt. … However the EU donor countries, including Austria, are turning the whole affair into an undignified spectacle. Because despite the repeated resolutions with each day that passes it becomes clearer that the final act of the Greek tragedy is already playing out. It's just a matter of time before the bankruptcy wolves close in for the kill. How else can we interpret the fact that the finance ministers failed to adopt a resolution at their decisive meeting on Monday, and are waiting until the last minute to give the green light on Wednesday. … But to prevent bankruptcy they're paying out just one instalment of the next tranche, rather than the whole amount. … Europe is just playing for time - and even then it's keeping the price as low as possible. This is not what long-term, sustainable solutions look like."
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Naftemporiki - Greece | Monday, 12. November 2012
The Greek parliament approved the 2013 budget on Sunday night. With its green light for the 13.5 billion euro austerity package it fulfils the second prerequisite for receiving further emergency loans. But there is little expectation that the next instalment of 31.5 billion euros will be released at the meeting of the Eurozone finance ministers this Monday. The conservative daily Naftemporiki reminds the EU partners of their duties: » more
The Greek parliament approved the 2013 budget on Sunday night. With its green light for the 13.5 billion euro austerity package it fulfils the second prerequisite for receiving further emergency loans. But there is little expectation that the next instalment of 31.5 billion euros will be released at the meeting of the Eurozone finance ministers this Monday. The conservative daily Naftemporiki reminds the EU partners of their duties: "Our country has fulfilled all its obligations and is now waiting for feedback from its creditors. … But up to now it doesn't look like they will react any time soon. This delay is probably a result of the power struggle in the Eurozone. And naturally it is also connected to the technocratic debates and controversies over what to do about Greece's debts and further financial requirements. But these issues should have been resolved long ago and should not now serve as an excuse for delaying the country's financing. … Today our EU partners have the chance to demonstrate their solidarity."
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To Vima Online - Greece | Thursday, 8. November 2012
The Greek parliament approved a new austerity package totalling 13.5 billion euros on Wednesday evening. The vote was regarded as a pre-requisite for the crisis-stricken country to receive its next credit instalment. But the creditors continue to vacillate, the left-liberal online paper To Vima writes, calling adamantly for Greece not to tolerate this behaviour: » more
The Greek parliament approved a new austerity package totalling 13.5 billion euros on Wednesday evening. The vote was regarded as a pre-requisite for the crisis-stricken country to receive its next credit instalment. But the creditors continue to vacillate, the left-liberal online paper To Vima writes, calling adamantly for Greece not to tolerate this behaviour: "Samaras must react now and demand the immediate payment of the credit instalment. Greece's politicians and people are making huge sacrifices only to be humiliated like this. If the creditors are trying to hurt the feelings of the Greek people like this there is no alternative to voluntary withdrawal from the Eurozone. And this would also mean its automatic collapse. The European must stop playing games with the Greek people. We've had enough of this."
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TVXS - Greece | Thursday, 8. November 2012
The Greek parliament on Wednesday approved by a slim majority a new austerity package that foresees billions in spending cuts and tax hikes. Tens of thousands of people had gathered in Athens to protest the measures. According to the online portal TVXS, the new austerity package is the final act in the Greek drama: » more
The Greek parliament on Wednesday approved by a slim majority a new austerity package that foresees billions in spending cuts and tax hikes. Tens of thousands of people had gathered in Athens to protest the measures. According to the online portal TVXS, the new austerity package is the final act in the Greek drama: "The new package is so harsh that it simply cannot be followed by another. Whichever way you look at it, this is the 'Final Solution'. Like the final act in a major drama, the 153 'yes' votes represent a catharsis. ... Not only will the new package compound the damage which the two previous packages have already caused. ... It contains all the necessary ingredients to turn Greece into a Latin-American style banana republic. ... If Greece ever emerges from the crisis it will be a far poorer country, completely different to what it was 20 years ago. But of course only if the austerity package is actually implemented."
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Berlingske - Denmark | Thursday, 8. November 2012
Europe's political leaders should finally heed economist John Maynard Keynes in their efforts to save the euro, writes economics professor Svend E. Hougaard Jensen in the liberal daily Berlingske: » more
Europe's political leaders should finally heed economist John Maynard Keynes in their efforts to save the euro, writes economics professor Svend E. Hougaard Jensen in the liberal daily Berlingske: "After World War I Keynes became worried about the political consequences of the external demands (coming above all from Britain) for austerity in Germany, and the resulting unemployment. Today, too, the austerity policies being called for by Germany (!) may become so brutal that it will be difficult to establish governments in the political centre with broad popular support. When all we hear is demands for across-the-board austerity and the economic policy instruments at hand are extremely limited, political power does not seem very attractive at all. ... Greece is an interesting case here: without the possibility of determining its own monetary policy, depreciating its own currency or preventing capital flight, and confronted at the same time with calls for austerity, the door for extremist political powers is wide open. And these call the basic pillars of our current social model into question."
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Imerisia - Greece | Monday, 5. November 2012
Under the pressure of nationwide strikes the Greek parliament plans to hold a ballot on the new 13.5 billion austerity package on Wednesday. The junior partner in Antonis Samaras' government, the left-liberal party Dimar, wants to abstain. The business paper Imerisia calls on the politicians to approve the measures: » more
Under the pressure of nationwide strikes the Greek parliament plans to hold a ballot on the new 13.5 billion austerity package on Wednesday. The junior partner in Antonis Samaras' government, the left-liberal party Dimar, wants to abstain. The business paper Imerisia calls on the politicians to approve the measures: "Samaras' dramatic warning about the need to close ranks in Europe and protect the country 'from disaster' accurately reflects the situation. ... In these critical hours the political system must assume its responsibility. The future of the country depends on the votes of these MPs; they will determine the economic course and social cohesion for the coming decades. When the future of the country is at stake, the fate of this or that party means little. If the economy goes bankrupt they too will collapse anyway."
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Il Sole 24 Ore - Italy | Friday, 2. November 2012
The Greek parliament is due to vote on raising the retirement age to 67 and cutting pensions by up to ten percent next Wednesday. However according to the Greek Supreme Court of Audit these reforms demanded by the troika may be unconstitutional. If they are not implemented Greece won't receive any more money, the liberal-conservative business paper Il Sole 24 Ore comments: » more
The Greek parliament is due to vote on raising the retirement age to 67 and cutting pensions by up to ten percent next Wednesday. However according to the Greek Supreme Court of Audit these reforms demanded by the troika may be unconstitutional. If they are not implemented Greece won't receive any more money, the liberal-conservative business paper Il Sole 24 Ore comments: "This time it is neither the angry people nor the opposition that are wrecking the government's plans. It is the warning issued by the Supreme Court of Audit. ... Even if the court's ruling is not binding, yesterday's warning represents a further obstacle in Prime Minister Samaras' race with time. A breach of the constitution could make it impossible for the agreements with the troika to be put into practice. It puts the coalition in an even tighter spot just a few days before the decisive ballot. Because without a positive outcome, the next credit instalment of 31 billion euros won't be released. And without this assistance Greece's state coffers will be empty in a matter of a few weeks."
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Il Sole 24 Ore - Italy | Wednesday, 31. October 2012
Greece has concluded its negotiations with its international creditors on new austerity measures, Prime Minister Antonis Samaras has announced. It's just a pity that the plans lack the approval of parliament, the liberal-conservative business paper Il Sole 24 Ore points out: » more
Greece has concluded its negotiations with its international creditors on new austerity measures, Prime Minister Antonis Samaras has announced. It's just a pity that the plans lack the approval of parliament, the liberal-conservative business paper Il Sole 24 Ore points out: "No sooner had Prime Minister Samaras announced the conclusion of the negotiations than his coalition partners atttacked him from behind, causing the four-month-old coalition to falter. According to the socialist Pasok leader Evangelos Venizelos, the negotiations with the troika won't end until November 12 when the Euro Group makes its decision. And as if that weren't bad enough, the Democratic Left rejects all agreements with the troika regarding employment contracts and civil servants' salaries. Is this pure parliamentary tactics? Perhaps, but it's a risky game, especially considering that with just 176 out of 300 seats, the coalition has only a slim parliamentary majority. And the survival of the coalition is a basic condition for avoiding a political crisis with devastating consequences."
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TVXS - Greece | Tuesday, 30. October 2012
The Greek state television broadcaster Net TV suspended the presenters Marilena Katsimi and Kostas Arvanitis on Monday after they commented on reports of police torture by asking whether the minister of public order and citizen protection would resign. For the web portal TXVS, censorship in the Greek media is by no means a new phenomenon: » more
The Greek state television broadcaster Net TV suspended the presenters Marilena Katsimi and Kostas Arvanitis on Monday after they commented on reports of police torture by asking whether the minister of public order and citizen protection would resign. For the web portal TXVS, censorship in the Greek media is by no means a new phenomenon: "Before the economic crisis there was already a crisis of a moral and journalistic nature in the media. Then the economic crisis enabled cartels to secure enormous influence for themselves. It has become increasingly common for inconvenient journalists to be sacked and media entrepreneurs to interfere with journalistic work. This is something we are all aware of. But with the discontinuation of the programme with Arvanitis and Katsimi another threshold has been transgressed. ... Because there is not a single legal argument to back it up. The programme was cancelled simply because it didn't please the minister, the government and the management it had appointed."
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The Guardian - United Kingdom | Wednesday, 31. October 2012
Kostas Vaxevanis, chief editor of the Greek magazine Hot Doc, was taken into provisional custody on Sunday. In a commentary for the left-liberal daily The Guardian, he denounces the deceit and selfishness of the Geek elites: » more
Kostas Vaxevanis, chief editor of the Greek magazine Hot Doc, was taken into provisional custody on Sunday. In a commentary for the left-liberal daily The Guardian, he denounces the deceit and selfishness of the Geek elites: "The crisis in Greece wasn't caused by everyone. And not everyone is paying for the crisis. The exclusive, corrupt club of power tries to save itself by pretending to make efforts to save Greece. In reality, it is exacerbating Greece's contradictions, while Greece is teetering on the edge of a cliff. ... In the country that, as we like to remind ourselves, gave birth to democracy, democracy has become a strange new breed. Those in charge make sure that the right to vote comes across as democracy, while negating democracy in the way they abuse the rights voters give them. And justice remains in thrall to politics."
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Naftemporiki - Greece | Tuesday, 30. October 2012
The German Minister of Finances Wolfgang Schäuble on Sunday rejected proposals for a Greek debt haircut by the Eurozone nation, and the Greek government's negotiations with its international creditors regarding labour market reforms are also stalling. The conservative daily Naftemporiki calls for both the government and the creditors to adopt clear positions: » more
The German Minister of Finances Wolfgang Schäuble on Sunday rejected proposals for a Greek debt haircut by the Eurozone nation, and the Greek government's negotiations with its international creditors regarding labour market reforms are also stalling. The conservative daily Naftemporiki calls for both the government and the creditors to adopt clear positions: "Supposedly our time for being bailed out ran out long ago if wanted to adhere to the deadlines. But instead we continued with our delaying tactics - paradoxically, because we have already lost the game 0-3. So what are we trying to achieve? What is our strategy - apart from avoiding another goal being scored against us? … We must soon be told whether there will be a crash or not because no one can bear this uncertainty about our future any longer. And at least after a crash the survivors, if there are any, can begin with the healing process."
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Die Presse - Austria | Monday, 29. October 2012
According to media reports on Sunday the troika made up of the EU Commission, the ECB and the IMF is recommending further debt relief for Greece. The country is de facto insolvent, the liberal-conservative daily Die Presse writes and laments that the countries of the EU didn't leave the bailout operations to the IMF: » more
According to media reports on Sunday the troika made up of the EU Commission, the ECB and the IMF is recommending further debt relief for Greece. The country is de facto insolvent, the liberal-conservative daily Die Presse writes and laments that the countries of the EU didn't leave the bailout operations to the IMF: "The mistake was not to keep Greece in the Eurozone. Its exit would have hurt the country and dragged other states into misery. The mistake was for the euro partners to have got involved in the whole rescue operation. They should have left this difficult business to the IMF right from the start. This is the international organisation charged with helping bankrupt states. For Greece this path would certainly have been more painful, but perhaps shorter. For the rest of the Eurozone it would also have been expensive, but at least more honest."
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TVXS - Greece | Monday, 29. October 2012
The chief editor of the Greek weekly Hot Doc, Kostas Vaxevanis, was taken into temporary custody on Sunday for publishing a list of more than 2,000 wealthy citizens with Swiss bank accounts. Back in 2010 Christine Lagarde, at the time French Minister of Finances, had handed over a CD containing the names of tax dodgers to her Greek counterpart Giorgos Papakonstantinou. The government is trying to protect corrupt politicians by having Vaxevanis arrested, the website TVXS contends: » more
The chief editor of the Greek weekly Hot Doc, Kostas Vaxevanis, was taken into temporary custody on Sunday for publishing a list of more than 2,000 wealthy citizens with Swiss bank accounts. Back in 2010 Christine Lagarde, at the time French Minister of Finances, had handed over a CD containing the names of tax dodgers to her Greek counterpart Giorgos Papakonstantinou. The government is trying to protect corrupt politicians by having Vaxevanis arrested, the website TVXS contends: "Papakonstantinou declared before a committee of inquiry that he didn't know the whereabouts of the original CD. … But it is by no means certain that he was telling the truth. It may well be that the list was manipulated. Because the names of relatives of several finance ministers of the Pasok party which have been circulating in the media for weeks now are missing from the list published by Hot Doc. Notwithstanding, the magazine was right to publish the list. … Vaxevanis' arrest is not just outrageous but a sign that the government is panicking and using all the means at its disposal to try and save the tottering Pasok leadership."
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De Telegraaf - Netherlands | Thursday, 25. October 2012
Crisis-stricken Greece will be granted another two years to meets its austerity and reform targets, according to Greek Minister of Finances Giannis Stournaras. Europe should not under any circumstances loosen the reins, the right-leaning tabloid De Telegraaf warns: » more
Crisis-stricken Greece will be granted another two years to meets its austerity and reform targets, according to Greek Minister of Finances Giannis Stournaras. Europe should not under any circumstances loosen the reins, the right-leaning tabloid De Telegraaf warns: "It looks like the Greeks will get their new loan, but also like the earlier agreements on austerity measures will be put on the back burner. While the Greeks are convinced about the payment of new loans, the creditors (like the EU and the IMF) remain cautious. And this caution is justified. The Greek state is nowhere near the point it should have reached by now. The public deficits are high and the legislation that puts unnecessary constraints on companies has barely been reformed. The pressure on the Greeks to get their affairs in order must continue, otherwise there is zero chance of the billions in loans ever being repaid."
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Kathimerini - Greece | Tuesday, 23. October 2012
The cause of the Greek economic crisis is to be found in Europe's identity crisis, columnist Zeza Zikou writes in the conservative daily Kathimerini: » more
The cause of the Greek economic crisis is to be found in Europe's identity crisis, columnist Zeza Zikou writes in the conservative daily Kathimerini: "It is an identity crisis, a crisis of confidence, a crisis of representative democracy, a leadership and vision crisis, a crisis that has grown from a conflict of interests. The nation states are in conflict with the 'central planners' of the current neo-liberal world in Brussels and the International Monetary Fund (IMF) and also with the financial capital that acts globally, aggressively and unrestrainedly. The state leaders have proven themselves to be far weaker: lacking a philosophy, respect for history, sensibility. Their actions are helplessly determined by their own personal obligations and mental stereotypes. This crisis also seems to be a field test for democracy and political culture, not just in Greece but all over Europe. The visible disharmony between society and politicians, the lack of legitimacy, the failure of the technocrats, the crisis of representation, the rise of new, aggressive nationalisms and the onslaught of hate stereotypes are affecting not just the weak and repeatedly battered Greece, but all Europe."
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Protagon - Greece | Tuesday, 23. October 2012
The Greek Finance Minister Giannis Stournaras on Monday warned that many people would starve if the country didn't receive the next instalment of the bailout package soon. The economist Giannis Varoufakis argues on the website Protagon that on the contrary Greece and Europe would be much better off without the loans: » more
The Greek Finance Minister Giannis Stournaras on Monday warned that many people would starve if the country didn't receive the next instalment of the bailout package soon. The economist Giannis Varoufakis argues on the website Protagon that on the contrary Greece and Europe would be much better off without the loans: "It would be a good thing if we didn't receive either this or the other instalments - and if they hadn't given us those we have already received. Because they can't throw us out of the Eurozone they would then be forced to really do something about the crisis - not just in Greece but in other countries of the Eurozone. If they deny us the instalments the European Central Bank would be forced to find a solution both for the bank systems and for financing the members of the Eurozone - one that goes beyond the logic of loans. The result would be an end to the crisis from Greece to Ireland and from Spain to eastern Germany."
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Ependytis - Greece | Sunday, 21. October 2012
Of the roughly 1.2 million people out of work in Greece not even one in six receives government support, several daily newspaper reported last week. The weekly Ependytis criticises that this rapidly expanding group figures nowhere in the programmes of the political parties: » more
Of the roughly 1.2 million people out of work in Greece not even one in six receives government support, several daily newspaper reported last week. The weekly Ependytis criticises that this rapidly expanding group figures nowhere in the programmes of the political parties: "The unemployed exist merely as a frightening statistic, as a number that is rising rapidly, and as a tool used by the [government and the troika] to blackmail the 'privileged' who still have jobs. The unemployed feature neither in the negotiations between the government and the troika nor in the austerity measures - apart from in the cuts in unemployment benefits. ... Although the jobless are one of the groups showing most spectacular growth in Greek society and will soon be the largest group, they are the ones being excluded in all respects."
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Naftemporiki - Greece | Friday, 19. October 2012
The heads of state and government at the EU summit have congratulated Greece on its progress. EU Council President Herman Van Rompuy pointed to the "remarkable efforts of the Greek people" on Friday. The conservative daily Naftemporiki calls on the EU to show more solidarity instead of spouting praise: » more
The heads of state and government at the EU summit have congratulated Greece on its progress. EU Council President Herman Van Rompuy pointed to the "remarkable efforts of the Greek people" on Friday. The conservative daily Naftemporiki calls on the EU to show more solidarity instead of spouting praise: "The negotiations with the troika on new austerity measures have not yet been finalised. And it looks like they need to be finalised before we can start talking about the benefits we can expect from improved relations with our EU partners. In practice however it's clear that the purely technical discussions are over, and now it's time for political negotiation. ... So now that the politicians and not the technocrats are calling the shots we expect concrete actions rather than just words from our EU partners. These words won't solve the gigantic liquidity problems or secure our place in the Eurozone."
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Die Presse - Austria | Thursday, 18. October 2012
The EU's crisis policy looks increasingly like a game of hopscotch and is frustrating the people, the liberal-conservative daily Die Presse writes: » more
The EU's crisis policy looks increasingly like a game of hopscotch and is frustrating the people, the liberal-conservative daily Die Presse writes: "When the heads of state and government meet yet again this week in Brussels to find a solution for Greece and the euro the game of hopscotch will continue. French President François Hollande and Germany's Finance Minister Wolfgang Schäuble ... are trying to keep their customers happy with maximum demands aimed at sending the message 'At least I tried!'. The one is making a fresh demand for the introduction of euro bonds and influence over the wage policies of other countries; the other is calling for a powerful budget commissioner with total control over the austerity programmes of countries like Greece, Italy and Spain. … But in reality this conflict over which direction to take is doing nothing but increasing people's frustration at the inability of Europe's leaders to negotiate a common solution."
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Protagon - Greece | Thursday, 18. October 2012
Trade unions in Greece have called a general strike for today against the Greek government's new austerity programme. The news portal Protagon doubts the success of the numerous strikes in Greece: » more
Trade unions in Greece have called a general strike for today against the Greek government's new austerity programme. The news portal Protagon doubts the success of the numerous strikes in Greece: "Between 1980 and 2008 there were 38 general strikes. Italy comes second with 16, then France with 10 and Portugal with 3. Does the large number of strikes in Greece mean we have trade unions that take a tough stance against employers? After so many years one can hardly reach that conclusion. It only shows that the trade unions are acting either without thinking or at the behest of the parties - or they are fighting to maintain their own privileges. … The strikers are only successful when they don't make unrealistic demands (like scrapping the austerity package). If the strikes exhaust the employees, leave them disappointed and on top of that are undermined by trade unionists with party affiliations, then in the end the employers are the only winners."
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Blog EUROPP - United Kingdom | Tuesday, 16. October 2012
On the one hand the Greeks call Angela Merkel a Nazi, and on the other many support the neo-Nazi party Golden Dawn. Political scientists Daphne Halikiopoulou and Sofia Vasilopoulou criticise such double standards on the London School of Economics' blog EUROPP: » more
On the one hand the Greeks call Angela Merkel a Nazi, and on the other many support the neo-Nazi party Golden Dawn. Political scientists Daphne Halikiopoulou and Sofia Vasilopoulou criticise such double standards on the London School of Economics' blog EUROPP: "But here lies the contradiction of Greek nationalism: while on the one hand it seems to be directed against those foreign powers that many Greeks hold responsible for the continuation of the crisis, alluding similarities between the current German involvement in Greek economic affairs with the Nazi invasion of the 1940s; on the other, at the same time over 400,000 Greek citizens have recently voted a domestic neo-Nazi party into Parliament with 18 seats out of 300. Recent polls estimate Golden Dawn support at over ten per cent. How can a country protest against the imposition of a perceived 'Fourth Reich' but at the same time support a real Nazi threat from within?"
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Blog Pitsirikos - Greece | Monday, 15. October 2012
Thousands of journalists have lost their jobs in Greece because of the crisis, particularly in the print media. With everything that's going wrong in the country, the blogger Pitsirikos can't understand why they don't get active anyway: » more
Thousands of journalists have lost their jobs in Greece because of the crisis, particularly in the print media. With everything that's going wrong in the country, the blogger Pitsirikos can't understand why they don't get active anyway: "You've got blogs, online radios, web TV and much more at your disposal - even free of charge. The inactivity of the majority of journalists who have lost their jobs simply means: even before they lost their jobs they had no business being journalists. That might sound harsh, but it's not. Where are all the journalists whose opinions and reports appeared daily in the papers and magazines? Nowhere. ... It's easy to complain about the boss who you worked for obediently until not so long ago. It's also easy to complain about colleagues who still work for those bosses. ... But it's a lot harder to take your fate into your own hands - alone or in cooperation with other journalists."
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Kathimerini - Greece | Friday, 12. October 2012
The IMF's warnings about too much austerity and Angela Merkel's visit to Athens raise the conservative daily Kathimerini's hopes that the austerity measures will be eased: » more
The IMF's warnings about too much austerity and Angela Merkel's visit to Athens raise the conservative daily Kathimerini's hopes that the austerity measures will be eased: "The International Monetary Fund is exerting pressure for Greece to be given more money and more time to implement the austerity measures. But the countries and institutions of the Eurozone have been reticent in their reaction. This means that there are problems and so far nothing is certain. Nonetheless, the general mood now is far less threatening and the basic conditions are far more positive. In addition, Samaras' daring decision to invite Merkel to Greece has paid off. The chancellor's comment that she sees light at the end of the tunnel did not go unnoticed. The same goes for her statement that she will help Greece if Athens sticks to its course and executes structural reforms, as Samaras has promised to do."
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To Vima Online - Greece | Thursday, 11. October 2012
Most Greek media have reacted positively to German Chancellor Angela Merkel's visit to Athens on Tuesday. The left-liberal online daily To Vima also calls on Greek politicians to see the German chancellor's words as a wake-up call: » more
Most Greek media have reacted positively to German Chancellor Angela Merkel's visit to Athens on Tuesday. The left-liberal online daily To Vima also calls on Greek politicians to see the German chancellor's words as a wake-up call: "From now on our decisions must be strategic. Either we withstand the enormous pressure and the concomitant burden or we admit that we cannot bear the political, economic and social costs and steer another course. There is no middle solution. And every party must take a stand. At present there are no changes in Europe's policy - whether that is right or wrong remains to be seen. The time for playing games is over. ... We can no longer say yes to the Eurozone and no to the austerity measures. ... And the time has come to take definitive decisions and shoulder responsibility. Anything else would be just a tale from One Thousand and One Nights."
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Main focus of Tuesday, 9. October 2012
German Chancellor Angela Merkel travels to Greece today for the first time since the start of the euro crisis. The visit is accompanied by a ... » more
German Chancellor Angela Merkel travels to Greece today for the first time since the start of the euro crisis. The visit is accompanied by a wave of protest, with thousands demonstrating against the chancellor's crisis policy and the Greek government in Athens on Monday evening. Even if Merkel's intention is to underline her determination to keep Greece in the Eurozone, the country's problems are far from over, commentators warn.
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La Repubblica - Italy | Tuesday, 9. October 2012
The fact that thanks to massive security measures Angela Merkel will be visiting a ghost town today can't conceal that Athens is simmering with discontent, the left-liberal daily La Repubblica warns: » more
The fact that thanks to massive security measures Angela Merkel will be visiting a ghost town today can't conceal that Athens is simmering with discontent, the left-liberal daily La Repubblica warns: "Frau Merkel won't be confronted with stray dogs and people looking for food in rubbish bins. ... But the comparison with the late Weimar Republic [made by Samaras in a speech last week] was not unjustified. ... The irrepressible rise of the Nazi party Golden Dawn has been driven by a dangerous combination of unemployment and national humiliation. Foreigners are being used as scapegoats. ... Greece's eastern border is hundreds of kilometres long and countless islands off the Turkish coast make the country an obvious destination for refugees. ... The Dublin Regulation obliges Greece to prevent refugees from crossing the EU borders. ... Coping with the enormous wave of refugees is Greece's deposit vis-à-vis Europe. But so far only the Golden Dawn party has benefited from it at all."
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Blog Gavin Hewitt's Europe - United Kingdom | Monday, 8. October 2012
When she visits Athens Angela Merkel should think hard about how to keep Greece in the Eurozone, writes Europe correspondent Gavin Hewitt on his blog for the BBC: » more
When she visits Athens Angela Merkel should think hard about how to keep Greece in the Eurozone, writes Europe correspondent Gavin Hewitt on his blog for the BBC: "The meeting is a gamble. If there is chaos it will only underline for the German public that Greece is a lost cause. Angela Merkel, however, is making a calculation. She is signalling that she wants Greece to stay in the Eurozone. She has silenced German politicians who in early summer were saying a Greek exit held no fears for them. ... Sooner or later the big questions will have to be answered. Does Greece need a further restructuring of its debt as the IMF is hinting, or even a third bailout? In the meantime the Greek prime minister is warning that conditions in Greece are similar to those in the Weimar Republic in Germany in the 1930s. Plenty for Chancellor Merkel to think about."
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Handelsblatt - Germany | Tuesday, 9. October 2012
Even if Angela Merkel has already excluded the possibility of more financial aid for Greece, the liberal business paper Handelsblatt sees her visit to Athens ... » more
Even if Angela Merkel has already excluded the possibility of more financial aid for Greece, the liberal business paper Handelsblatt sees her visit to Athens as "a trip that sends several important messages. Firstly, Merkel is signaling that she has decided to keep Greece in the euro club. Secondly she wants to back Samaras as she deems him to be on the right path. And thirdly she wants to test the Greek government's ability to introduce reform personally. Therefore Merkel's visit to Greece represents nothing less than a change of heart on the part of the chancellor. ... What clinched the matter was her visit to China at the end of August and China's urgent plea to stabilise the euro - and Greece. Merkel's realisation there was that Germany can't afford a global economic slump into which China and the US are also dragged, all because of Europe."
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Proto Thema - Greece | Sunday, 7. October 2012
For the first time since the euro crisis began three years ago German Chancellor Angela Merkel is travelling to Greece. Athens is preparing for her visit on Tuesday with massive security operations. Merkel must finally recognise the terrible consequences of her austerity dictates, the conservative weekly Proto Thema demands: » more
For the first time since the euro crisis began three years ago German Chancellor Angela Merkel is travelling to Greece. Athens is preparing for her visit on Tuesday with massive security operations. Merkel must finally recognise the terrible consequences of her austerity dictates, the conservative weekly Proto Thema demands: "Before Merkel comes to Athens someone should show her a video of all that has happened to her guinea pig in recent days. Then she will see that her experiment has failed. And she will see that her test subjects have been driven so mad by the measures of the EU's and IMF's mad scientists that they are about to start eating each other and will end the experiment immediately. So what about Spain and Portugal? This is a good opportunity, Frau Merkel, to review the results of your experiment so far. ... With the troika, the technocrats, the austerity measures and the years of attacks on Greece you have driven everyone crazy. ... We hope that you take a look at this monster you have created in Greece, which will drag down with it into the abyss all Southern Europe and the rest of the EU."
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Novinar - Bulgaria | Wednesday, 3. October 2012
The Greeks have the highest life expectancy in Southern Europe, according to a recently published UN study. On average they live to be 80 years old, while Bulgarians, Romanians and Turks live less than 73 years. The secret of the Greeks' longevity is that they work less, the daily Novinar surmises: » more
The Greeks have the highest life expectancy in Southern Europe, according to a recently published UN study. On average they live to be 80 years old, while Bulgarians, Romanians and Turks live less than 73 years. The secret of the Greeks' longevity is that they work less, the daily Novinar surmises: "To save personnel costs, 25 percent of Greek businesses have reduced their employees' working hours instead of cutting their pay. When Bulgarian entrepreneurs cut pay in times of crisis, it doesn't mean the workers will work less, but more. The clever Greeks, by contrast, have found a way to trick the EU with its insistent calls for fiscal discipline while keeping their wages intact. That means less stress and fatigue, and a longer life."
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Imerisia - Greece | Monday, 1. October 2012
The French banking group Crédit Agricole is on the brink of selling its struggling subsidiary, the Greek bank Emporiki. Crédit Agricole announced on Monday that it was giving the offer made by Greek bank Alpha priority, and would only negotiate with that bank. The business paper Imerisia hopes that the takeover will lead to the consolidation of the Greek banking sector: » more
The French banking group Crédit Agricole is on the brink of selling its struggling subsidiary, the Greek bank Emporiki. Crédit Agricole announced on Monday that it was giving the offer made by Greek bank Alpha priority, and would only negotiate with that bank. The business paper Imerisia hopes that the takeover will lead to the consolidation of the Greek banking sector: "This starts a new chapter in the history of the Greek banking system. The recapitalisation and increasing concentration in the sector thanks to mergers and takeovers will make Greece's banks more robust and more competitive. A healthy and thriving banking sector is essential for a country's economy. If the sector can return to normality it will be able to finance businesses once more and cover investment plans. This is a key step towards restoring the liquidity of the Greek economy as a whole."
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To Vima Online - Greece | Saturday, 29. September 2012
The Greek neo-Nazi party Golden Dawn plans to set up an employment agency dedicated to finding jobs for Greek citizens only. The left-liberal online paper To Vima is not surprised: » more
The Greek neo-Nazi party Golden Dawn plans to set up an employment agency dedicated to finding jobs for Greek citizens only. The left-liberal online paper To Vima is not surprised: "After opening soup kitchens just for Greeks, setting up blood donation groups for Greek patients only and persecuting immigrants, the Golden Dawn party has now announced plans to found an employment agency just for Greeks. It is counting on the unemployment rate, which has leapt because of the recession, to boost its 'social profile' - just as it has exploited the economic crisis to gain a foothold in politics. This is nothing new: the same recipe was already applied by Hitler, who based his policy on the humiliation suffered by the German people through the [harsh] terms imposed by the Treaty of Versailles, exploiting the economic misery of people living in Germany. He invested in the idea of racial purity and the persecution of the Jews to rise to power."
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Naftemporiki - Greece | Friday, 28. September 2012
After several hours of negotiations on Thursday the Greek coalition government reached a basic consensus on a new austerity package of around 12 billion euros. Athens hopes this will secure it a further loan of 31 billion euros to avert bankruptcy. But the conservative daily Naftemporiki is sceptical about whether Greece will be able to get back on track in the foreseeable future: » more
After several hours of negotiations on Thursday the Greek coalition government reached a basic consensus on a new austerity package of around 12 billion euros. Athens hopes this will secure it a further loan of 31 billion euros to avert bankruptcy. But the conservative daily Naftemporiki is sceptical about whether Greece will be able to get back on track in the foreseeable future: "Even if we reach all the goals and demonstrate fiscal discipline, can anyone affirm that we will be able to get the markets to lend us money at a cheap rate again in 2015? Even if the Europe around us hasn't solved all its problems or at least isn't rated by the markets as secure? This thought alone shows that this new austerity package - as harsh and painful as it may be - could prove to be empty and ineffectual if it isn't accompanied by a complete change of mood in the Eurozone."
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To Vima Online - Greece | Thursday, 27. September 2012
The Greeks can protest as much as they want, Berlin doesn't want to listen, the left-liberal online paper To Vima writes: » more
The Greeks can protest as much as they want, Berlin doesn't want to listen, the left-liberal online paper To Vima writes: "Berlin wants full political and economic control in Europe, but it doesn't want to pay for it. ... Berlin doesn't want to take monetary measures that may not be successful and it doesn't want to spend money. It's not interested in stimulus measures and it sees the repression and social discontent not as real problems but as a normal stage in the process of adaptation [of Greece to the EU]. And precisely this approach has already turned half of Europe into a ticking time bomb. … Almost the entire planet is asking Germany to implement effective measures to overcome the crisis, but Berlin refuses to do so. And why should the Germans do this when they're actually benefiting from this crisis? ... At least the Germans are making sure we're not alone [in Europe with our protests]. This is perhaps the only ray of hope, before all hope dies."
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Der Tagesspiegel - Germany | Thursday, 27. September 2012
A general strike all but brought public life in Greece to a standstill on Wednesday. But according to the left-liberal Tagesspiegel many people in the country no longer even have the energy to demonstrate: » more
A general strike all but brought public life in Greece to a standstill on Wednesday. But according to the left-liberal Tagesspiegel many people in the country no longer even have the energy to demonstrate: "While many Greeks feel angry, others are resigned to the situation. But Prime Minister Antonis Samaras can't relax yet. ... On the weekend he must continue the difficult negotiations with the troika on the details of the austerity catalogue and bring them to a successful conclusion. Then there's the parliamentary vote on the austerity legislation - a nailbiting ballot for the government. If that all goes smoothly Greece can expect a green light for the payment of the next credit instalment of 31.5 billion euros. But even then the country won't be out of the dark. ... The economist Peter Bofinger is right when he says the troika is prescribing the crisis countries the 'wrong therapy'. What Greece really needs are impulses for growth to get the economy back on its feet. And to give people new hope."
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Corriere del Ticino - Switzerland | Wednesday, 26. September 2012
In the event that Athens' creditors extend the deadline for Greece to implement the agreed reforms it would need an estimated 13 to 15 billion euros more than previously assumed. According to Finance Minister Yannis Stournaras, Greece wants to close the financing gap without further burdening European taxpayers. This is the consequence of a relaxed monetary policy, the liberal daily corriere del Ticino fumes: » more
In the event that Athens' creditors extend the deadline for Greece to implement the agreed reforms it would need an estimated 13 to 15 billion euros more than previously assumed. According to Finance Minister Yannis Stournaras, Greece wants to close the financing gap without further burdening European taxpayers. This is the consequence of a relaxed monetary policy, the liberal daily corriere del Ticino fumes: hold out a finger to the debtor countries and they'll grab the whole hand: "No sooner has the ECB announced supportive purchases than Athens is knocking at the door for the next deferral. Portugal wants more time as well, while Spain, which looked poised to apply for additional help, is now hesitating [for fear of the conditions that would be imposed], and in Italy, too, a growing number of voices are calling for less rigorous budget reorganisation. Should these countries continue on the course of deferral and watering-down, they would be committing another grave mistake. ... Berlin - as primary representative of the austerity course in Europe - would for its part be committing a mistake if it granted the requests of the ailing countries."
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Ependytis - Greece | Sunday, 16. September 2012
The sense of euphoria in Athens and Brussels after the German Constitutional Court's ESM ruling and the ECB's decision on government bond purchases gives the weekly Ependitis pause for thought. It stresses that the people of Greece neither share this enthusiasm nor believe that there will be a happy end to the country's debt crisis: » more
The sense of euphoria in Athens and Brussels after the German Constitutional Court's ESM ruling and the ECB's decision on government bond purchases gives the weekly Ependitis pause for thought. It stresses that the people of Greece neither share this enthusiasm nor believe that there will be a happy end to the country's debt crisis: "The euphoria is felt only on the surface of Greek society. But under that surface other feelings are simmering and turning into a dangerous cocktail of fatalism, anger, desperation and decay. … We're not just talking about strikes against the government's austerity measures. … What is more worrying is the deafening silence of the 23.6 percent of the population without jobs, of the people insured under the biggest health insurance scheme, the EOPYY, who [because the scheme is insolvent] are now at a dead end, and of the private-sector employees who are working part-time for less pay because of the unbelievable plans of the troika. … The government, and others, don't seem to be aware of what is happening under the surface - or they're simply not interested."
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Kathimerini - Greece | Thursday, 13. September 2012
Columnist Pantelis Boukalas finds the way in which politicians and creditors talk of Greece's mountain of debt disconcerting. He writes in the conservative daily Kathimerini: » more
Columnist Pantelis Boukalas finds the way in which politicians and creditors talk of Greece's mountain of debt disconcerting. He writes in the conservative daily Kathimerini: "The debt was presented to us almost like a god that had supposedly protected us all and to whom we all had to pay tribute silently and without complaint. And now the troika represents this god on earth, and this god is turning out to be merciless, perhaps even evil and vengeful. Some of his apostles say that they pity us and that their 'heart bleeds' [a phrase used by German Chancellor Angela Merkel in August] for us. But that is all, because the decision has already been made: we must be punished for all we have done so that we grow sensible and stop living our dissolute and parasitic lives. And our punishment will only end when not only our pockets, but also our souls are empty. When we are on our knees confessing that we have committed grave sins and that our mere existence was a crime."
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Naftemporiki - Greece | Thursday, 13. September 2012
In Greece, several members of the government are opposing the mass dismissals of public servants stipulated by the troika. The conservative daily Naftemporiki deplores the persistent clientelism in the country: » more
In Greece, several members of the government are opposing the mass dismissals of public servants stipulated by the troika. The conservative daily Naftemporiki deplores the persistent clientelism in the country: "While in the past two years of crisis we have had an ongoing debate about whether and how to reform the public sector, 600,000 people in the private sector have lost their jobs. Not a single minister showed any concern about this trend. … By contrast there is no shortage of members of government who will go to the barricades at the mere thought of any measures against public-sector employees. … The politicians see the enormous loss of jobs in the private sector as a natural consequence of the crisis. At the same time they are willing to do anything to prevent the public sector from being affected - in other words the sector where state clientelism is traditionally most prevalent."
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Phileleftheros - Cyprus | Monday, 10. September 2012
The number of beggars on the streets of Cyprus has spiralled since the outbreak of the crisis in Greece, the liberal daily Phileleftheros writes, comparing the situation with that of Greece in the 1980s: » more
The number of beggars on the streets of Cyprus has spiralled since the outbreak of the crisis in Greece, the liberal daily Phileleftheros writes, comparing the situation with that of Greece in the 1980s: "Back then you saw beggars in front of the churches, in the train stations and at bus stops. By contrast for the last three decades in Cyprus, the land of plenty, even more so than the word, the sight of beggars was practically unknown. True, there were very poor people, but you never saw beggars on the streets. But now, in the Cyprus of the 21st century, beggars have become part of daily life. The first were the gypsies, who came from the occupied territories in the north. But then the number of beggars rose dramatically. After the crisis in Greece, which has plunged a large part of the population into poverty and sparked a huge wave of emigration [to Cyprus], it is clear that begging in Cyprus has been Hellenised."
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Enikos.gr - Greece | Wednesday, 5. September 2012
The troika is recommending that Greece introduce a six-day working week while at the same time curbing employees' rights, Greek media reported on Monday, basing these claims on emails sent to the Economics Ministry. This spells the end of democracy in Greece, columnist and caricaturist Stathis Stavropoulos writes on the web portal enikos.gr: » more
The troika is recommending that Greece introduce a six-day working week while at the same time curbing employees' rights, Greek media reported on Monday, basing these claims on emails sent to the Economics Ministry. This spells the end of democracy in Greece, columnist and caricaturist Stathis Stavropoulos writes on the web portal enikos.gr: "If the troika together with its Greek puppets tries to introduce medieval working conditions, the kind of working conditions that in modern times are only established by fascist regimes by force of arms, there is no need for us to say goodbye to democracy: it's already dead. … In times of crisis capitalism shows its true face: it is fascism wearing a tie. And to make it socially acceptable it doesn't have to go round the pubs gathering the citizens' support; it can rule without it. And those who are now calling on us to work 13 hours a day and six to seven days a week so we can afford a decent meal are practicing the socially accepted fascism of the 'free' markets. They pretend to be democratic but in reality they are vampires. And once their work is finished Greece will be a special economic area whether it's with the euro or with the drachma."
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Kathimerini - Greece | Tuesday, 4. September 2012
In Greece, the public prosecutor's office has launched an investigation against members of the former socialist Pasok government after a Greek former top official at the International Monetary Fund admitted that the IMF was aware that the country's austerity programme was impracticable. It would be better if the investigation were led by a parliamentary commission of inquiry, the conservative daily Kathimerinin contends: » more
In Greece, the public prosecutor's office has launched an investigation against members of the former socialist Pasok government after a Greek former top official at the International Monetary Fund admitted that the IMF was aware that the country's austerity programme was impracticable. It would be better if the investigation were led by a parliamentary commission of inquiry, the conservative daily Kathimerinin contends: "We need answers from those responsible for the financial mismanagement, and also from former prime minister Giorgos Papandreou, who didn't realise the gravity of the situation and despite clear warnings from his predecessor tragically failed to take the necessary measures. … The questions must be answered within parliament and perhaps with the help of a special commission of experts that can make an objective assessment of what went wrong. It is a mistake for the people to expect answers from public prosecutors and special courts."
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To Vima Online - Greece | Sunday, 26. August 2012
During his visits to Berlin on Friday and Paris on Saturday the Greek Prime Minister Antonis Samaras managed to win his European partners over to his programme, but he now faces the task of persuading his opponents at home, the left-liberal online paper To Vima writes: » more
During his visits to Berlin on Friday and Paris on Saturday the Greek Prime Minister Antonis Samaras managed to win his European partners over to his programme, but he now faces the task of persuading his opponents at home, the left-liberal online paper To Vima writes: "With his trip Samaras has, so to speak, dismantled the external front [of the key EU partners against Greece] for now. So he can finally turn his attention to the front against him at home, which is far more dangerous. … Because the measures he has promised are almost certain to trigger very strong social and political reactions. It will probably come to problems with the different factions of the cooperating parties. There are already viewpoints that could endanger a united course of the socialist Pasok party, the Democratic Left and also the conservative Nea Demokratia. At any rate, the Athens front may well turn out to be much tougher than that in Berlin - with all that entails."
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Politis - Cyprus | Thursday, 23. August 2012
The British newspaper the Independent on Wednesday compared Greek Prime Minister Antonis Samaras with a beggar trudging around Europe asking for more money and time. The liberal daily Politis writes that the Greek only have themselves to blame for their country's battered reputation in Europe: » more
The British newspaper the Independent on Wednesday compared Greek Prime Minister Antonis Samaras with a beggar trudging around Europe asking for more money and time. The liberal daily Politis writes that the Greek only have themselves to blame for their country's battered reputation in Europe: "Such newspaper reports offend the dignity of all Greeks. … But the Greeks themselves have created this image Greece has in the West. They incorporated corruption into their everyday lives. A broken state and a sick society have prevented true values from becoming part of Greek behaviour. Now people pity this country, without feeling any genuine liking for it. Why is Samaras demanding more time when his own state is not even capable of collecting the VAT from a restaurant owner on the island of Hydra?"
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Delo - Slovenia | Friday, 24. August 2012
The Greek Prime Minister Antonis Samaras will have to pull all the stops to persuade German Chancellor Angela Merkel to make concessions, according to the left-liberal daily Delo: » more
The Greek Prime Minister Antonis Samaras will have to pull all the stops to persuade German Chancellor Angela Merkel to make concessions, according to the left-liberal daily Delo: "In Berlin they believe that far too many Greeks are still living in the past when they enjoyed the benefits of borrowed money. … France, which is pretty strapped for cash itself, will likely be more sympathetic to Samaras' request for more time. According to observers Germany will only comply with the request if it is coupled with additional terms and tougher controls. Angela Merkel faces elections next year, and far larger countries than Greece are already knocking on the door of the German taxpayer. Moreover many people [in Germany] are of the opinion that Greece should be the first country to be taught a lesson. … Samaras will have to prove that he is more capable than his predecessor of convincing the Greeks to say farewell to the past - no matter how much it hurts."
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Naftemporiki - Greece | Thursday, 23. August 2012
Ahead of Friday's meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel the conservative business paper Naftemporiki stresses the importance of Samaras showing his willingness to implement reforms: » more
Ahead of Friday's meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel the conservative business paper Naftemporiki stresses the importance of Samaras showing his willingness to implement reforms: "Samaras must convince Europe that Greece will do everything it can to get out of the crisis. He must show that the Greeks have made bloody sacrifices. And that perhaps for the first time the country will fulfil its obligations. Only if he does this will we be able to 'win over' our European partners. … There is just one way out of the crisis and that consists in changing the state we knew until yesterday. … Everyone talks about these changes that we should have started introducing 30 years ago and that must now become reality in a matter of a few months. These reforms must finally be implemented so that we can speak with a strong voice in Europe. We can't convince our partners with words, only with deeds."
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Süddeutsche Zeitung - Germany | Thursday, 23. August 2012
Europe is facing what are perhaps the most important weeks in its recent history, the left-liberal daily Süddeutsche Zeitung writes and calls on all parties to close ranks: » more
Europe is facing what are perhaps the most important weeks in its recent history, the left-liberal daily Süddeutsche Zeitung writes and calls on all parties to close ranks: "The German Constitutional Court will deliver its ruling, the troika will present its report, then comes the EU summit on October 18. Now, [ahead of his meeting with German Chancellor Angela Merkel on Friday] Greek Prime Minister Antonis Samaras is opening what is perhaps the final act in this currency drama, cleverly setting the tone, promoting, promising, showing contrition and understanding - but he has long since ceased to be in a position where he can decide the fate of his country. He can only influence the mood. The choreography of the coming weeks makes it clear that Europe can only overcome the crisis through the combined efforts of all its participants. If someone decides not to play along - the Constitutional Court, the Bundestag, the French president - then Greece's fate is sealed. If any one of these agents is of the opinion that he doesn't have to do his bit to save the single currency (for example cooperating in the urgently needed reform of the European banking union), this would also prevent a solution."
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Main focus of Tuesday, 21. August 2012
In a meeting with his Greek counterpart Dimitris Avramopoulos on Monday, German Foreign Minister Guido Westerwelle rejected the idea of softening the terms of the ... » more
In a meeting with his Greek counterpart Dimitris Avramopoulos on Monday, German Foreign Minister Guido Westerwelle rejected the idea of softening the terms of the reform package for Greece. Some commentators criticise that Berlin's attitude of refusal will exacerbate social and political tensions in Greece. Others accuse Athens of gambling away all its credibility by violating earlier agreements.
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Expansión - Spain | Tuesday, 21. August 2012
Europe's politicians must quickly decide how to react to Greece's demand for more flexibility in the repayment of its debts, the conservative business paper Expansíon writes: » more
Europe's politicians must quickly decide how to react to Greece's demand for more flexibility in the repayment of its debts, the conservative business paper Expansíon writes: "At this point the only thing that is certain is that any decision the EU takes on Greece's future will have immediate consequences for the future of the single currency. If it decides to give the Greek economy more leeway, countries like Spain and Italy could complain about the harsh austerity measures expected of them in exchange for selective help. The problem is that any deviation from the austerity policy will provoke immediate punishment from the investors. The other alternative is to reject Greece's demands. This could lead to the bankruptcy of the country and even to its exit from the euro - a crisis that would be even more difficult to overcome than the fall of the Lehman bank. There is no perfect solution but Europe's leaders need to show their cards now."
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To Vima Online - Greece | Tuesday, 21. August 2012
The German Foreign Minister Guido Westerwelle has said during a meeting with his Greek counterpart Dimitris Avramopoulos that the key to Greece's remaining in the Eurozone lies in Athens' hands. Last week several German coalition partners declared that a Greek exit is entirely possible. The left-liberal online newspaper To Vima criticises the Germans' stance: » more
The German Foreign Minister Guido Westerwelle has said during a meeting with his Greek counterpart Dimitris Avramopoulos that the key to Greece's remaining in the Eurozone lies in Athens' hands. Last week several German coalition partners declared that a Greek exit is entirely possible. The left-liberal online newspaper To Vima criticises the Germans' stance: "What are they trying to achieve by causing a panic a couple of days before Samaras arrives in Berlin? Before they have even heard what the prime minister has to say? Don't they see, don't they understand that this constantly aggressive stance is not helping Greece but only aggravating the social and political tensions? ... The crisis in Greece and all Europe can't be resolved with threats and blackmailing. European and above all German leaders must realise that half measures and panic reactions are jeopardising the future of the euro. And the price of a collapse of the Eurozone would be painful not just for already suffering Southern Europe, but for the rich North, too."
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Elsevier - Netherlands | Tuesday, 21. August 2012
When Greek Prime Minister Antonis Samaras visits Berlin at the end of the week German Chancellor Angela Merkel should not agree to his country's deferring its reforms, the right-wing conservative news magazine Elsevier writes: » more
When Greek Prime Minister Antonis Samaras visits Berlin at the end of the week German Chancellor Angela Merkel should not agree to his country's deferring its reforms, the right-wing conservative news magazine Elsevier writes: "Samaras has made the plea once before, in June. Back then the troika's answer was: no. The patience of creditors who had generously overlooked the often gross violations of agreements in the past years was at an end. And rightly so. Now one can only hope they will remain steadfast. Not just because conditions are made to be respected, but also because a Greek exit from the Eurozone would cost the euro countries far less than a complete bailout. That is the conclusion reached by the German research institute Ifo, among others. From a financial perspective there is practically no reason to rescue Greece. Agreements have been broken. Greece has lost its credibility."
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Il Sole 24 Ore - Italy | Monday, 20. August 2012
According to the German news magazine Der Spiegel, in its interim report the troika estimates that Greece will need 14 billion euros between now and 2014 rather than the 11.5 billion euros previously calculated. Once again the possibility of the country exiting the Eurzone is being openly discussed, but this would have devastating repercussions and must be avoided at all costs, writes the liberal-conservative business paper Il Sole 24 Ore: » more
According to the German news magazine Der Spiegel, in its interim report the troika estimates that Greece will need 14 billion euros between now and 2014 rather than the 11.5 billion euros previously calculated. Once again the possibility of the country exiting the Eurzone is being openly discussed, but this would have devastating repercussions and must be avoided at all costs, writes the liberal-conservative business paper Il Sole 24 Ore: "Not a few governments would secretly like to persuade Greece to exit the euro. ... Greece is already paying for its sins. Should a country that has shown remorse and the willingness to improve really be punished? What kind of monetary union would this create? One that demands sacrifices and then denies support because certain countries want this because it suits their election interests on the domestic front? ... And also economically the strategy doesn't make sense. National bankruptcy would be inevitable and many banks in the Eurozone would suffer the consequences while the bonds of other countries would come under further pressure, both because of the fear of contamination and the cost of the emergency measures that would have to be taken."
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Protagon - Greece | Thursday, 16. August 2012
The Greek head of government Antonis Samaras will push for more time to implement the austerity programme demanded by the country's international creditors during meetings with German Chancellor Angela Merkel and French President François Hollande in the coming week. Antonis Fourlis writes in the news portal Protagon that the visit will be decisive for the future of the Samaras government: » more
The Greek head of government Antonis Samaras will push for more time to implement the austerity programme demanded by the country's international creditors during meetings with German Chancellor Angela Merkel and French President François Hollande in the coming week. Antonis Fourlis writes in the news portal Protagon that the visit will be decisive for the future of the Samaras government: "I contradict those who say that Greece will automatically have to exit the euro if it is not given an extension now. … If it does come to an exit, the Samaras government will be in a very bad position because it will be confronted with a society that has given up all hope. The trips to Berlin and Paris will perhaps seal Samaras' fate. Luck is not on his side, but he has no alternative. When he returns he will know either that he has come up against a brick wall or that there is light at the end of the tunnel."
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Ependytis - Greece | Sunday, 12. August 2012
Over 6,000 people were taken into provisional custody in Greece last week as part of a police action against illegal immigration. The campaign is named after Xenios Zeus, the name given to the most powerful Greek god in his role as patron of hospitality and guests. The columnist Giannis Kibouropoulos decries in the weekly newspaper Ependytis a neoliberal cynicism that is creeping into linguistic usage: » more
Over 6,000 people were taken into provisional custody in Greece last week as part of a police action against illegal immigration. The campaign is named after Xenios Zeus, the name given to the most powerful Greek god in his role as patron of hospitality and guests. The columnist Giannis Kibouropoulos decries in the weekly newspaper Ependytis a neoliberal cynicism that is creeping into linguistic usage: "Words also have a function. For decades the new capitalist lexicon has systematically been hammered into our societies. As they are no longer able to come up with new terms on their own, the generally uneducated proponents of neoliberalism - with their diplomas and degrees hanging from the walls of their luxury offices - have started attacking language itself. ... They have brutally stripped hundreds of words of their historical meaning, and filled them with objectionable, misleading content. The pogrom against immigrants is named after Xenios Zeus, and the destruction of our country is being called a 'rescue' by our creditors. Every tool with which this catastrophe has been brought about is called a 'reform'. ... And 'privatisation' is the word for any sale of a public enterprise that is supposedly impeding the 'free market'."
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Imerisia - Greece | Thursday, 9. August 2012
In the Monday edition of the German newspaper Berliner Zeitung the leader of Germany's opposition Social Democratic Party, Sigmar Gabriel, voiced support for the idea of introducing Eurozone debt mutualisation in the long term. This hails a change of policy in Berlin, writes the business paper Imerisia, saying that this reorientation will change the mood in Germany and all Europe: » more
In the Monday edition of the German newspaper Berliner Zeitung the leader of Germany's opposition Social Democratic Party, Sigmar Gabriel, voiced support for the idea of introducing Eurozone debt mutualisation in the long term. This hails a change of policy in Berlin, writes the business paper Imerisia, saying that this reorientation will change the mood in Germany and all Europe: "It is now clear that politicians and observers in Germany are increasingly aware that one can no longer wait until the general elections in September 2013 and that the current government must change its course. … One thing is for sure: the national consensus on the European strategy is broken and the opposition is now much closer to the standpoint of Italian Prime Minister Mario Monti than that of the Chancellor. The debate in Germany will influence [other states], but it will also be influenced by the determination of key partners like France and Italy. Incidentally, a look back to the past confirms this virtually inevitable mutual dependence."
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Main focus of Wednesday, 8. August 2012
The International Monetary Fund is calling on Eurozone states to waive their demands regarding Athens. According to a report in the Wall Street Journal, the ... » more
The International Monetary Fund is calling on Eurozone states to waive their demands regarding Athens. According to a report in the Wall Street Journal, the organisation plans to stop its funding for Greece if the ECB and the national central banks continue to reject debt restructuring measures. This is an admission that Greece cannot repay its debts, some commentators say. Others criticise the IMF for trying to shirk its responsibilities.
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Diário Económico - Portugal | Wednesday, 8. August 2012
Euro Group boss Jean-Claude Juncker warned in an interview with the German broadcaster WDR on Tuesday of the risks of Athens exiting the Eurozone, but at the same time admitted that if it did so the process would be "manageable". The liberal business paper Diário Económico is annoyed and calls on EU politicians to be more prudent: » more
Euro Group boss Jean-Claude Juncker warned in an interview with the German broadcaster WDR on Tuesday of the risks of Athens exiting the Eurozone, but at the same time admitted that if it did so the process would be "manageable". The liberal business paper Diário Económico is annoyed and calls on EU politicians to be more prudent: "EU politicians simply talk too much. The crisis in Europe is essentially a crisis of confidence. ... And that confidence can only be restored if the creditors can see that there is a coherent strategy and discourse in the EU. The problem with EU politicians is that they express themselves in interviews on a daily basis, frequently to position themselves. … It makes you want to quote Spain's King Juan Carlos when he said: 'Why don't you just shut up?' Juncker was apparently aiming to counteract the effects of the recent statements about Greece by German Economics Minister Philipp Rösler. … But unfortunately his ploy failed completely. … Right now the markets are keeping their cool. … To conjure up the spectre of Athens pulling out of the euro at this point doesn't help one bit, even if such a scenario is being discussed behind the scenes."
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Die Presse - Austria | Wednesday, 8. August 2012
The demands of the IMF are an admission of the fact that Greece won't be able to repay its debts and will further diminish people's trust in the politicians, writes the liberal-conservative daily Die Presse pointing out that Austria's Finance Minister Maria Fekter once promoted the help for Greece as a "good business": » more
The demands of the IMF are an admission of the fact that Greece won't be able to repay its debts and will further diminish people's trust in the politicians, writes the liberal-conservative daily Die Presse pointing out that Austria's Finance Minister Maria Fekter once promoted the help for Greece as a "good business": "This statement by the Finance Minister can be seen as pretty much symbolic of the 'politics to markets to citizens' relationship. The politician puts herself above the markets, declares that burning money is a 'good business' and the citizens actually believe her - because the markets are bad and the politicians are good - right? Wrong. This faith in politicians is fast fading. And with every day that passes without a solution to the euro-debt-economic crisis it fades a little more. In the beginning it was just a few economists. Then it was more of them, and then the first citizens joined in. And ever since the right-wing populists jumped on the euroscepticism bandwagon there's been a big rush. 2013 brings elections in Germany and Greece. And it doesn't look like Greece will have paid back its debts by then."
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Die Welt - Germany | Wednesday, 8. August 2012
The IMF is evading its responsibilities in demanding that the euro states relinquish their claims on Greece, writes the conservative daily Die Welt: » more
The IMF is evading its responsibilities in demanding that the euro states relinquish their claims on Greece, writes the conservative daily Die Welt: "The Fund shouldered these responsibilities when it participated in the bailout. It could have - and should have - realised earlier that the road to the Greek bailout was generously paved with optimism: the second bailout package for the bankrupt country which was laboriously agreed on in March and whose ratification took a good deal of convincing not only for the German government, will possibly - probably even - be insufficient because it is based on the calculations of the IMF. Greece's creditors rightly demand that it should be reliable, but the same should go for them as well. ... The IMF cannot act as advisor, helper, rescuer and expert committee, depending on which role happens to suit it best at a given moment."
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De Volkskrant - Netherlands | Monday, 6. August 2012
According to its international creditors Greece has made progress in its efforts to cut spending and must now persevere with this course of action. After the troika's visit to Athens its latest report is expected for the end of September. But the verdict is already clear, because a bankrupt Greece is taboo, writes cultural historian Thomas van der Dunk in the left-liberal daily De Volkskrant: » more
According to its international creditors Greece has made progress in its efforts to cut spending and must now persevere with this course of action. After the troika's visit to Athens its latest report is expected for the end of September. But the verdict is already clear, because a bankrupt Greece is taboo, writes cultural historian Thomas van der Dunk in the left-liberal daily De Volkskrant: "Apart from all the chaos, a bankruptcy would also mean that other European countries wouldn't get back the money they have lent the country. And more importantly: Europe's politicians would be forced to concede this and admit that they were wrong - first and foremost [Dutch Finance Minister] Jan Kees de Jager. This would be an enormous psychological setback for the proponents of stronger European integration and grist to the mill of the eurosceptics and populists: the voter would see that they were right. For these reasons this step is being delayed as long as possible. Athens, too, knows this. It's like with the generals in the First World War: continuing to fight is pointless but they can't admit it. Because otherwise all the sacrifices would have been in vain. So they soldier on."
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Ependytis - Greece | Sunday, 5. August 2012
The business paper Ependytis is surprised to see how passively the leaders of the Eurozone are behaving this month even though the future of the Monetary Union is at stake: » more
The business paper Ependytis is surprised to see how passively the leaders of the Eurozone are behaving this month even though the future of the Monetary Union is at stake: "They act like nothing important is going on. As if there weren't urgent tasks to be fulfilled, as if the existence of the Eurozone, which they so eagerly defend, did not hang in the balance. Let's just let August go by without doing anything; we'll get down to real business in September! We'll let Greece sweat a bit, and Italy and Spain too, with their spiralling credit costs, … and little Cyprus can stew under a tough austerity package as punishment for its sins. It's enough that good habits aren't being broken: the summer holidays of the elite, the lack of action. ... Europe goes on holiday in August, but not the Europeans, or not all of the them. Europe takes a break while the Europeans worry. Europe sleeps while the Europeans have nightmares. The European leaders are recovering from the exertions of their indecisiveness."
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Epikaira - Greece | Thursday, 2. August 2012
Panagiotis Roumeliotis, Greece's former representative to the International Monetary Fund, said in an interview with the New York Times last week that the IMF was aware that the austerity programme it stipulated for Greece in 2010 was impossible to realise. The weekly Epikaira calls former Greek Prime Minister Giorgos Papandreou to account: » more
Panagiotis Roumeliotis, Greece's former representative to the International Monetary Fund, said in an interview with the New York Times last week that the IMF was aware that the austerity programme it stipulated for Greece in 2010 was impossible to realise. The weekly Epikaira calls former Greek Prime Minister Giorgos Papandreou to account: If it was known back then "that the programme wasn't enforceable, can it be possible that Papandreou didn't know it too?The weekly Epikaira calls former Greek Prime Minister Giorgos Papandreou to account: "If the journalists back then already knew that the programme wasn't enforceable can it be possible that Papandreou didn't know it too? No. Unfortunately his brainless co-workers convinced him back then that he the fate of the Eurozone was in his hands. They put a pistol in his hands, and instead of turning it against the oppressors of his country he used it to commit political suicide and lead Greece to its economic demise. Papandreou must now give convincing answers to the statements made by Roumeliotis. Otherwise his silence will be proof of the crime that was committed against Greece."
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To Vima Online - Greece | Thursday, 2. August 2012
After a round of tough negotiations, the Greek government agreed on a new austerity package on Wednesday evening. The aim is to cut spending by 11.5 billion euros so that the country can continue to receive support from international creditors. The left-liberal online paper To Vima explains the circumstances of the deal: » more
After a round of tough negotiations, the Greek government agreed on a new austerity package on Wednesday evening. The aim is to cut spending by 11.5 billion euros so that the country can continue to receive support from international creditors. The left-liberal online paper To Vima explains the circumstances of the deal: "Greece is under major pressure from abroad, and its hands are tied. At the same time the situation within the country is growing increasingly tense. The experts of the troika must compile a report on Greece's efforts to economise which will then decide whether the country will continue to receive financial support. ... The government can no longer take risks and play with the fate of the country. It is therefore hoping that it won't be forced to make even tougher compromises. This is a major dilemma to which no end is in sight. ... Greece can't free itself of the pressure without great pain and effort, and must prepare for further difficulties."
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Kathimerini - Greece | Sunday, 29. July 2012
The Greek government on Monday announced spending cuts of more than 11.5 billion euros for the coming two years. The cuts will affect public healthcare again. One measure under consideration is that health insurance policy holders be made to pay 10 euros for each visit to the doctor once annual costs for their visits to doctors exceed 1,500 euros. A nightmare scenario for cash-strapped patients, the conservative daily Kathimerini writes: » more
The Greek government on Monday announced spending cuts of more than 11.5 billion euros for the coming two years. The cuts will affect public healthcare again. One measure under consideration is that health insurance policy holders be made to pay 10 euros for each visit to the doctor once annual costs for their visits to doctors exceed 1,500 euros. A nightmare scenario for cash-strapped patients, the conservative daily Kathimerini writes: "This measure is primarily envisaged for healthy people who haven't had an accident and aren't seriously ill. But have all of them signed a contract with fate? … The measure undermines the social welfare state. It doesn't deal with the wasteful and corrupt state and it doesn't tackle thieves and liars. No, it contradicts any sense of justice as well as the right to life and care. … Life would no longer be a right but would depend on the patient's economic situation. And this situation, too, is part of the definition of a failed state."
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El Mundo - Spain | Monday, 30. July 2012
The German Minister for Economics Philipp Rösler on Sunday once again talked of a potential Greek exit from the Eurozone. The conservative daily El Mundo says it detects a turning point in Germany's policy: » more
The German Minister for Economics Philipp Rösler on Sunday once again talked of a potential Greek exit from the Eurozone. The conservative daily El Mundo says it detects a turning point in Germany's policy: "Merkel appears to have changed her strategy. Spain and Italy must be protected to prevent the death of the single currency. A change of policy has been discernible since the meeting between [Spain's Minister for Economics] de Guindos and [German Finance Minister] Schäuble on Tuesday. Clear messages of support for the euro followed the meeting - first from Draghi, then from Merkel and Hollande, and finally yesterday from head of the Euro Group Juncker. … The change in direction could cause collateral damage. Merkel wants to force Greece out of the Eurozone because the general opinion in Germany is that the doubts about the monetary union will persist as long as Greece is part of it. … A protective wall is being built to prevent the impact a Greek exit would have from dragging down Spain and Italy, and by extension the entire EU."
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TVXS - Greece | Sunday, 29. July 2012
The Greek government has decided in favour of partial privatisation and dissection of the ailing state-owned ATE Bank, the Greek central bank announced on Friday. This means that the bank's loss-making business will be put under state control while the remaining healthy part of its business will go to the Piraeus Bank. The Internet portal tvxs criticises the decision: » more
The Greek government has decided in favour of partial privatisation and dissection of the ailing state-owned ATE Bank, the Greek central bank announced on Friday. This means that the bank's loss-making business will be put under state control while the remaining healthy part of its business will go to the Piraeus Bank. The Internet portal tvxs criticises the decision: "How and through which procedures was the division of the ATE Bank into good and bad undertaken? Which criteria applied, and on the basis of which reports? When was parliament informed about all this? … The rash decision to sell ATE Bank fulfils a purpose and sends out a message that precautions are being taken to protect bank capital and the assets of the political elite. … The ruling class is telling its bosses abroad and the citizens here in Greece that the forced restructuring in favour of parasitism will continue - without the least hesitation and to the very limits of formal legality."
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Main focus of Friday, 27. July 2012
The head of the ECB Mario Draghi has signalised that the Central Bank will take stronger action in the debt crisis and provide further support ... » more
The head of the ECB Mario Draghi has signalised that the Central Bank will take stronger action in the debt crisis and provide further support to crisis-stricken states. His statement on Thursday that the ECB will do whatever it takes to preserve the euro is being interpreted as a move towards buying government bonds. Some commentators express relief at hearing these words while others find them alarming and warn against indirect financing of sovereign debt.
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Naftemporiki - Greece | Friday, 27. July 2012
Following Mario Draghi's statement the ECB would do whatever it takes to resolve the euro crisis and his vague hints regarding the bank's purchase of government bonds the conservative daily Naftemporiki hopes that he will keep his promise: » more
Following Mario Draghi's statement the ECB would do whatever it takes to resolve the euro crisis and his vague hints regarding the bank's purchase of government bonds the conservative daily Naftemporiki hopes that he will keep his promise: "Draghi has acted as one would expect of a banker of his calibre. … Yesterday can be described as a victory for the defenders of the euro, but in the next few days the markets will test whether Draghi will really make good on his promise. … If the president of the European Central Bank doesn't have the courage and the resolve to either go against the will of leading European politicians or simply act alone, … the dark days will make a surprisingly quick and fulminating comeback and the European Central Bank will lose its credibility and also its ability to change the mood on the markets with a statement."
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TVXS - Greece | Tuesday, 24. July 2012
The web portal tvxs believes that Greece's European dream is about to end and that the only thing left is for Greece to brace itself for the fall: » more
The web portal tvxs believes that Greece's European dream is about to end and that the only thing left is for Greece to brace itself for the fall: "Despite their election promises, the political forces that won in the last elections have chosen not to broach the issue of Greece's problems in Europe and not to fight for a fundamental change in the IMF's catastrophic treatment of Greece since 2010. As a result they have wasted their last chance - but also Greece's last chance. It is only a matter of time before Greece is thrown out of the Eurozone. ... In view of international developments the government needs to get serious and prepare the country to make the exit from the Eurozone as painless as possible. Owing to its own mistakes and those of Europe, Greece's European dream has failed to come true again. Greece should lick its wounds, learn from its mistakes and embark on a new political course."
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Financial Times - United Kingdom | Tuesday, 24. July 2012
With an eye on the crisis-ridden economies of Spain and Greece, Martin Feldstein, professor of economics at Harvard University, explains in a guest column for the liberal daily Financial Times that the solution could lie in devaluing the single currency: » more
With an eye on the crisis-ridden economies of Spain and Greece, Martin Feldstein, professor of economics at Harvard University, explains in a guest column for the liberal daily Financial Times that the solution could lie in devaluing the single currency: "A lower value of the euro would reduce the prices of eurozone exports and raise the cost of imports, reducing or eliminating the current account deficits of the peripheral European countries, since about half of their trade is with countries outside the eurozone. The weaker euro would also boost Germany's net exports, raise German wages and prices and reduce the trade imbalance within the eurozone. The increase in peripheral country net exports would also raise their gross domestic product and so reverse their recessions that were caused by higher taxes and cuts in government spending. That would make it politically easier to achieve the needed fiscal consolidations. And shifting from recession to growth would raise business incomes and employment, reducing the volume of bad loans and mortgage defaults now hurting the banks."
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Main focus of Tuesday, 24. July 2012
Speculation over Greece's euro exit and Spain's precarious situation have caused turbulence in Europe's financial markets. The euro fell on Monday to its lowest level ... » more
Speculation over Greece's euro exit and Spain's precarious situation have caused turbulence in Europe's financial markets. The euro fell on Monday to its lowest level in two years, Spain's interest rates hit a record high, and risk premiums are also rising steeply in Italy. Commentators are baying for the ECB to buy up government bonds and decrying Berlin's blockade mentality in the deepening euro crisis.
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Ta Nea - Greece | Tuesday, 24. July 2012
Former US president Bill Clinton was in Athens on Monday to meet the Greek premier Antonis Samaras. Clinton was accompanying a delegation of businessmen from ... » more
Former US president Bill Clinton was in Athens on Monday to meet the Greek premier Antonis Samaras. Clinton was accompanying a delegation of businessmen from the Greek diaspora that wants to pump 100 million dollars into the country. The left-liberal Ta Nea is not convinced about the initiative, saying that in the current circumstances not even expat Greeks will invest in Greece, "a country where no one can say for sure which currency it will have in two years time, and whether it will be ruled by normal politicians or some sort of extremist popular front. ... Only idiots or crooks would invest in a country like this. Not even the uncles from Chicago! And it will stay that way as long as Greece remains Europe's last communist state, with Soviet attitudes and abhorrent judicial practices, as long as ministers and bureaucrats are threatened openly with prosecution if they dare to do their jobs properly."
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Diário de Notícias - Portugal | Tuesday, 24. July 2012
In view of the recent turbulence on Europe's stock markets the daily newspaper Diário de Notícias criticises Berlin's obstructive behaviour: » more
In view of the recent turbulence on Europe's stock markets the daily newspaper Diário de Notícias criticises Berlin's obstructive behaviour: "The risk premiums on Spanish (and Italian) bonds are climbing to record levels - despite the horrifying austerity package Berlin and Brussels have foisted on Madrid in exchange for approving assistance for Spain's banks. Regions like Valencia are bankrupt and need help from the central government. At the same time [Jens] Weidmann, the cynic who heads the Bundesbank, is pushing for Spain to apply for a complete bailout. What terrible cruelty! The EFSF has been reduced to small change, and the new euro bailout fund [the ESM] will be subject to the scrutiny of Germany's Constitutional Court at least until September 12. Meanwhile the ECB is still refusing to buy government bonds on the secondary market. To promise something that doesn't exist is the worst insult to those who need it. The silence of the cowards continues in most of Europe's capitals."
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Público - Portugal | Tuesday, 24. July 2012
The US rating agency Moody's has confirmed the top AAA credit rating of Germany, the Netherlands and Luxembourg for now, but lowered their outlook from "stable" to "negative". It justified the move by pointing to uncertainties about the future of the Eurozone. This means the prospect of Greece going bankrupt is more frightening than certain people are willing to admit, the liberal daily Público concludes: » more
The US rating agency Moody's has confirmed the top AAA credit rating of Germany, the Netherlands and Luxembourg for now, but lowered their outlook from "stable" to "negative". It justified the move by pointing to uncertainties about the future of the Eurozone. This means the prospect of Greece going bankrupt is more frightening than certain people are willing to admit, the liberal daily Público concludes: "Moody's assessment is indicating precisely the opposite of what the German Minister for Economics Philipp Rösler claimed when he said that the prospect of an Athens exit from the euro had 'long since lost its sting'. The [rating agency's] warning, which is now putting pressure on even the burgeoning German economy, shows that this scenario remains a scary one - and will do for some time to come. And how is Portugal faring in these difficult times? Not well. Now that we have reached the middle of the year the implementation of the budget plans is showing cracks that the government either refuses to see or underestimates because it is confident about the correctness of its approach. But as we will see in a few months' time, the problems with the budget will cause a lot of trouble and discontent."
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Il Sole 24 Ore - Italy | Tuesday, 24. July 2012
If the European Central Bank (ECB) doesn't intervene now to halt the escalating European debt crisis the monetary union is doomed, warns Roberto Napoletano in the liberal-conservative business paper II Sole 24 Ore: » more
If the European Central Bank (ECB) doesn't intervene now to halt the escalating European debt crisis the monetary union is doomed, warns Roberto Napoletano in the liberal-conservative business paper II Sole 24 Ore: "The European Central Bank must do its bit to rescue the euro - and do it now. A radical shift in thinking is required because the Greek crisis has taught us that it's not enough to announce the limited purchase of government bonds. It must be made clear to the financial markets that there are no limits to either the power or the resources of the ECB. If we find the courage and the energy to do this, we will save the euro. If not, no one, I repeat no one, will have anything to smile about because sooner or later even the so-called AAA countries will pay a heavy price for the destruction they have caused with their short-sightedness. … The excuse that the ECB lacks the powers for such intervention doesn't apply, because the imperative of protecting the Eurozone gives the Bank the necessary authority. The Bundesbank, too, will be forced to recognise this."
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Main focus of Monday, 23. July 2012
In the run-up to the troika visit on Tuesday the media are fuelling speculation about Greece's bankruptcy and euro exit. The IMF is allegedly planning ... » more
In the run-up to the troika visit on Tuesday the media are fuelling speculation about Greece's bankruptcy and euro exit. The IMF is allegedly planning to end financial aid to Greece and German Economic Minister Philipp Rösler has all but given up on reforms in Athens. For some commentators these signals from international money lenders are long overdue, others are criticising Berlin for digging the Eurozone's grave.
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Naftemporiki - Greece | Monday, 23. July 2012
Following a report in the German magazine Spiegel about the IMF stopping its payments and the pessimistic comments on the Greek reform programme made by Germany's Economics Minister Philipp Rösler in a televised interview, the conservative business paper Naftemporiki calls for Germany to adopt a clear stance on whether Greece should leave the Eurozone: » more
Following a report in the German magazine Spiegel about the IMF stopping its payments and the pessimistic comments on the Greek reform programme made by Germany's Economics Minister Philipp Rösler in a televised interview, the conservative business paper Naftemporiki calls for Germany to adopt a clear stance on whether Greece should leave the Eurozone: "It's no good if Merkel keeps saying she wants to keep Greece in the Eurozone while she and her ministers create a climate that puts a question mark over a Greek Eurozone exit. Even if Greece had a fully developed plan for the privatisations (the lenders are pushing for), no serious investor would spend a single euro were he being told that Greece was on its way out of the Eurozone. The Eurozone's 'in or out' game must end as soon as possible, because otherwise the Greek people will continue to suffer without any hope for the future. No Greek government, however good, can make any progress whatsoever when the most important partner, Germany, is undermining all its efforts."
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La Repubblica - Italy | Monday, 23. July 2012
In a TV interview the German Vice Chancellor and Minister for the Economy Philipp Rösler explained there would be no more financial aid to Greece if it did not fulfill its obligations. Rösler is putting Greece out of its misery, according to the left-liberal daily La Repubblica: » more
In a TV interview the German Vice Chancellor and Minister for the Economy Philipp Rösler explained there would be no more financial aid to Greece if it did not fulfill its obligations. Rösler is putting Greece out of its misery, according to the left-liberal daily La Repubblica: "Hawks can become vultures, intransigence can be a death blow. And this is exactly what happened yesterday. The German Minister for the Economy Philipp Rösler confirmed and strengthened rumours about Greece's impending exit from the monetary union. ... His comments segue with stories in the press [Der Spiegel magazine] about the alleged plans of the IMF to stop giving money to Athens. The words of the German minister are speeding up Greece's death throes. But the troika is not meeting in Athens to assess the situation until tomorrow. ... Perhaps Rösler only wanted to step into the tug of war between Athens and Brussels about extending the deadline for fulfilling its conditions. His words are certainly going to help eject Greece from the monetary union and cut the first sod for the grave that is being dug for the euro."
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Bild - Germany | Monday, 23. July 2012
The German news magazine Der Spiegel reports today that senior IMF officials are calling for an end to IMF financial aid to Greece; the German Minister for Economics Philipp Rösler said in a TV interview Sunday that the threat of Greece leaving the Eurozone lost its sting long ago. The tabloid Bild is blowing the same horn: » more
The German news magazine Der Spiegel reports today that senior IMF officials are calling for an end to IMF financial aid to Greece; the German Minister for Economics Philipp Rösler said in a TV interview Sunday that the threat of Greece leaving the Eurozone lost its sting long ago. The tabloid Bild is blowing the same horn: "Finally! This signal was long overdue. Greece is neither willing nor able to solve its problems. The political caste does not dare ask the rich to pay up. The bureaucrats are unable to privatise unprofitable public-sector enterprises, the tax administration is inefficient and corrupt. More euros will not help, but only further reward inability and unwillingness. The IMF is pulling the emergency brake. This will make it easier for handout-countries like Germany and the rest of the EU to say: Acropolis adieu, time for you to go!”
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Die Presse - Austria | Monday, 23. July 2012
The time has come for international lenders to stop their payments to Greece, the liberal-conservative daily Die Presse writes, commenting on a report in Germany's Spiegel magazine which explains that the IMF should discontinue its assistance to Greece: » more
The time has come for international lenders to stop their payments to Greece, the liberal-conservative daily Die Presse writes, commenting on a report in Germany's Spiegel magazine which explains that the IMF should discontinue its assistance to Greece: "No wonder the International Monetary Fund wants to stop financial aid to the crisis-stricken country. Such threats have been made in the past, but they should be carried through now. How many more times do the euro countries and the IMF plan to give in? What has to happen for them to finally draw the line? The threat of Greece's exit from the Eurozone has long since ceased to frighten the financial markets. The international banks wrote off their Greek bonds long ago. Only the European Central Bank (ECB) still holds lots of Greek bonds, but even recapitalising the ECB would be affordable for the euro countries. The international lenders must make good on their threats. Otherwise they will lose credibility."
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Kathimerini - Greece | Friday, 20. July 2012
The 100 year agreement with which the island of Ikaria in the North Aegean obtained its independence from the Ottoman Empire and joined Greece in 1912 expired on Tuesday. The Italian daily Libero used the occasion to publish a humorous piece on Monday according to which the islanders are now considering leaving Greece and joining Austria. The daily Kathimerini is surprised at the violent reactions the article sparked in Athens: » more
The 100 year agreement with which the island of Ikaria in the North Aegean obtained its independence from the Ottoman Empire and joined Greece in 1912 expired on Tuesday. The Italian daily Libero used the occasion to publish a humorous piece on Monday according to which the islanders are now considering leaving Greece and joining Austria. The daily Kathimerini is surprised at the violent reactions the article sparked in Athens: "This is further proof of the complete lack of humour on the one hand, and of the completely hysterical reflexes that kick in at the slightest hint that we might relinquish part of our sovereignty on the other. ... And this whole spectacle is taking place while the rest of Europe engages in a serious discussion about the transfer of sovereignty of the euro countries and the construction of a political union. So it's not just Greece's inability to introduce economic reforms that is forcing us from the Eurozone. It is also the deep-seated complexes making us cling to conspiracy theories and infantile nationalism that prevent us from modernising our country and following global developments."
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Kathimerini - Greece | Wednesday, 18. July 2012
The Greek government wants to accelerate privatisation to raise state revenues. The troika estimated 50 billion euros in revenues from privatisations in 2011, while a current report by the Hellenic Republic Assets Development Fund puts the amount to be expected at just 7 billion euros. The conservative daily Kathimerini asks whether Greece should bother privatising at all: » more
The Greek government wants to accelerate privatisation to raise state revenues. The troika estimated 50 billion euros in revenues from privatisations in 2011, while a current report by the Hellenic Republic Assets Development Fund puts the amount to be expected at just 7 billion euros. The conservative daily Kathimerini asks whether Greece should bother privatising at all: "Like many other calculations by the troika, the figures on privatisation have proved too optimistic and unrealistic. Unless, that is, it included the sale of latent property holdings like mineral or offshore resources in its calculations. ... The country must take a historical decision that could determine its fate for decades to come. Will it relinquish control over assets and resources that are of strategic importance - like for example the energy and water sector, harbours or airports - for the sake of reducing its debts by seven billion euros? To what extent will this debt reduction really help the devastated country and its citizens?"
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Kathimerini - Greece | Friday, 13. July 2012
Attacks by neo-Nazi bands occur almost on a daily basis in Greece, but the culprits are hardly ever prosecuted. According to a report by Human Rights Watch put out on Tuesday, the authorities tend to ignore the incidents or even advise victims not to press charges. The conservative daily Kathimerini warns of the consequences: » more
Attacks by neo-Nazi bands occur almost on a daily basis in Greece, but the culprits are hardly ever prosecuted. According to a report by Human Rights Watch put out on Tuesday, the authorities tend to ignore the incidents or even advise victims not to press charges. The conservative daily Kathimerini warns of the consequences: "The gangs who hunt, beat and terrorise 'foreigners' are not only dangerous for the weaker members of our society, the immigrants, but also for society itself. ... Current law can be applied if the necessary political will exists and the police and judiciary do their job. But if the state continues to do nothing to counter the xenophobic attacks, if the cowards can be sure they will go unpunished, then we must accept that we live in a world governed by arbitrariness. And our fate will then be far worse than what we are now experiencing with the economic crisis."
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To Vima Online - Greece | Tuesday, 10. July 2012
The Greek Labour Minister Nikos Nikolopoulos stood down on Monday in "resignation" over the talks on the country's austerity package, becoming the third member the new government has lost in the three weeks since it took office. The left-liberal online paper To Vima criticises Nikolopoulos's decision and warns the remaining members of government: » more
The Greek Labour Minister Nikos Nikolopoulos stood down on Monday in "resignation" over the talks on the country's austerity package, becoming the third member the new government has lost in the three weeks since it took office. The left-liberal online paper To Vima criticises Nikolopoulos's decision and warns the remaining members of government: "Nikolopoulos has proven with his behaviour that he doesn't realise the gravity of the country's situation and that the only thing he's interested in is his own political survival. … It is unacceptable for this government to be repeatedly rocked by internal crises just because certain members are incapable of fulfilling difficult tasks. The government faces the challenge of solving the crisis, rebuilding the economy and boosting the country's productivity - no matter what the cost, even in political terms. All politicians will be measured by their success in this endeavour. Both those who made a real effort and those who preferred to abandon ship in the hope of saving themselves politically."
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Ependytis - Greece | Sunday, 8. July 2012
The suicide rate in Greece has risen dramatically. According to the Greek emergency services, in the Athens area alone there were 350 attempted suicides in June, with 50 deaths. These statistics revealing the level of people's desperation must be taken into account when implementing the harsh austerity programme, warns the business paper Ependytis: » more
The suicide rate in Greece has risen dramatically. According to the Greek emergency services, in the Athens area alone there were 350 attempted suicides in June, with 50 deaths. These statistics revealing the level of people's desperation must be taken into account when implementing the harsh austerity programme, warns the business paper Ependytis: "The representatives of the troika come here with their precise schedules, their orderly files, their perfect statistics and their non-negotiable criteria, which will doubtless strongly condemn the country's performance. Will anyone show them the statistics of desperation? … No negotiation or renegotiation [with creditors] will be at all worthwhile if it isn't done on behalf of the people. The European leadership, which presents itself as the guardian of the humanist values that have become established in Europe, needs to be re-vaccinated with the basic elements of this humanism. The mountain of debt, the deficit, the loan will all be worth nothing if the 'Greek patient' is allowed to drown in desperation."
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Avgi - Greece | Wednesday, 4. July 2012
Greek Prime Minister Antonis Samaras plans to begin with the privatisation of state-owned enterprises this summer, as he stressed in a letter to the participants of last week's EU summit. The leftist daily Avgi warns about the exploitation of state assets: » more
Greek Prime Minister Antonis Samaras plans to begin with the privatisation of state-owned enterprises this summer, as he stressed in a letter to the participants of last week's EU summit. The leftist daily Avgi warns about the exploitation of state assets: "The government is bowing to the demands of its creditors and has put the sale of public assets at the top of its agenda. … The creditors aren't interested in making investments in Greece. They're just in a hurry to snap up the bargains! They're eager to buy state-owned real estate and companies for a pittance. Only then will they examine whether and under which conditions they would invest. It's obvious that this plundering of public assets is not an investment, at least not an investment aimed at promoting growth. ... There is an urgent need and a national and social obligation to take action against this plundering."
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Kathimerini - Greece | Tuesday, 3. July 2012
The EU task force that is meant to help Greece implement the reforms prescribed by the troika on Tuesday called on Athens to pay outstanding bills amounting to several billion euros. The government won't be able to wring the money required to do this out of its citizens, the conservative daily Kathimerini predicts: » more
The EU task force that is meant to help Greece implement the reforms prescribed by the troika on Tuesday called on Athens to pay outstanding bills amounting to several billion euros. The government won't be able to wring the money required to do this out of its citizens, the conservative daily Kathimerini predicts: "The troika made up of the ECB, the EU Commission and the IMF will discover that the state's revenues don't tally with the rigid and far too optimistic forecasts - not just because the taxpayers can't pay any more but also because the collection of taxes is deliberately being delayed to avoid a negative impact on the voters ahead of the parliamentary elections. ... This foolish tactic of delaying tax returns until after the elections simply means postponing an explosion. ... The people won't pay their taxes - not because they are disobedient but because they simply don't have the money. ... Athens has set targets that are out of reach and by foolishly attempting to achieve them regardless the state is 'destroying' the citizens and subjecting them to international humiliation. A destroyed state and defenceless citizens: this is the definition of a failed state."
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The Economist - United Kingdom | Thursday, 28. June 2012
The German economists Hans-Werner Sinn of Munich's Ifo Institute for Economic Research and Albrecht Ritschl of the London School of Economics have been discussing for two weeks now to what extent the German-backed bailouts for Greece can be compared with the Marshall Plan implemented after World War II. Without a drastic waiving of debts Germany's successful model would hardly have been possible, Albrecht Ritschl explains in the Free Exchange blog of the liberal business magazine The Economist: » more
The German economists Hans-Werner Sinn of Munich's Ifo Institute for Economic Research and Albrecht Ritschl of the London School of Economics have been discussing for two weeks now to what extent the German-backed bailouts for Greece can be compared with the Marshall Plan implemented after World War II. Without a drastic waiving of debts Germany's successful model would hardly have been possible, Albrecht Ritschl explains in the Free Exchange blog of the liberal business magazine The Economist: "The figures for Greece are indeed horrific, exceeding 200 percent of GDP. What makes them so particularly depressing is that there seems to be no coherent plan, or one that is based on illusions. That was very different after World War II. The Marshall Plan hatched out in 1947 had a simple goal, to give top priority to self-sustained recovery in Europe, and to minimise further transfers from the US. That's why ERP deliveries were so small. Indeed, they were only designed as a palliative, and a red herring for the European public, until the deep political agenda of the Marshall plan had played out."
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To Vima Online - Greece | Monday, 25. June 2012
The new Greek Prime Minister Antonis Samaras and his finance minister Vasilios Rapanos won't be taking part in the EU summit at the end of the week. Samaras can't travel to Brussels because of an eye operation while Rapanos is still recovering after a fainting attack a few days ago. The left-liberal online paper To Vima doubts that Greece's new government is up to the challenges it faces: » more
The new Greek Prime Minister Antonis Samaras and his finance minister Vasilios Rapanos won't be taking part in the EU summit at the end of the week. Samaras can't travel to Brussels because of an eye operation while Rapanos is still recovering after a fainting attack a few days ago. The left-liberal online paper To Vima doubts that Greece's new government is up to the challenges it faces: "These two cases of illness don't permit people to start calling the new government a patient, but the government's constellation is not the most favourable. Above all because it plans to win the title 'government of national rescue'. … To be frank there is a lack of experience and competence in the cabinet. The economic team has the most critical task of coordinating the efforts aimed at economic recovery, but it seems to lack the necessary energy and dynamics. … Rapanos himself has plenty of experience, but he can't realise his full potential because he has no competent colleagues to back him in controlling spending and revenues."
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Naftemporiki - Greece | Friday, 22. June 2012
Vassilis Rapanos will join the new Greek government as minister of finance. He was previously director of the National Bank of Greece and fought against the country's military dictatorship (1967-74). The business paper Naftemporiki places high hopes in Rapanos: » more
Vassilis Rapanos will join the new Greek government as minister of finance. He was previously director of the National Bank of Greece and fought against the country's military dictatorship (1967-74). The business paper Naftemporiki places high hopes in Rapanos: "Rapanos is to mark a clear break with the past … and implement genuine reforms. He is a technocrat who has understood that everything around us has changed and that this represents perhaps a unique opportunity. He knows that the citizens have left the past behind them and are making major steps towards important developments. The markets and the taxpayers, too, are hoping for changes that finally meet their expectations. Mr Rapanos has the unique chance to get things moving because he has the knowledge and an insider view of the situation. It's up to him to change the face of the Greek economy."
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All available articles from » Kouros Giannis
Main focus of Thursday, 21. June 2012
Three days after the parliamentary elections in Greece the conservative Nea Dimokratia party, the socialist Pasok and the leftist party Dimar have agreed on a ... » more
Three days after the parliamentary elections in Greece the conservative Nea Dimokratia party, the socialist Pasok and the leftist party Dimar have agreed on a government coalition. Now the new Prime Minister Antonis Samaras must renounce his clientelism and seize the opportunity to renegotiate the country's austerity deal, commentators write.
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Simerini - Cyprus | Wednesday, 20. June 2012
Following the victory of the pro-austerity parties in the Greek parliamentary elections German government representatives have expressed contradicting views on what should be done with the austerity requirements. The conservative daily Simerini criticises this lack of a unified stance: » more
Following the victory of the pro-austerity parties in the Greek parliamentary elections German government representatives have expressed contradicting views on what should be done with the austerity requirements. The conservative daily Simerini criticises this lack of a unified stance: "While Brussels is adopting a more positive stance and wants to 'reward' the Greeks for the election result, Berlin is acting as if nothing had changed! … Are the Germans deliberately acting like this towards the Greeks? There are many explanations for this behaviour, the most important being that Greece is a means for Berlin to establish itself as the strongest partner and thus define the EU's economic policy. At the same time the unequal distribution of power between Germany and France is becoming increasingly obvious. Merkel tolerates the Socialist Hollande, who is against the austerity policy, but she doesn't accept him. … Greece is being used as a guinea pig for political conflicts particularly between the major countries. Therefore Samaras needs to demonstrate his wisdom, political skills, powers of persuasion and resolve above all vis-à-vis Germany."
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Imerisia - Greece | Wednesday, 20. June 2012
Greece's new government can only succeed if it acts with determination, the left-liberal business paper Imerisia writes: » more
Greece's new government can only succeed if it acts with determination, the left-liberal business paper Imerisia writes: "The key goal for this coalition government is a realistic economic programme - and of course its effective implementation. A programme that limits the scale of the recession and promotes growth. The developments in Europe have created a positive climate in which the Greek proposals for a change to the austerity package are being accepted, particularly in relation to extending the deadlines for budget consolidation. ... The new coalition government needs a plan that will convince the markets, its partners, its lenders and the citizens that it is heading towards healthy economic growth - and that it can hold this course. This plan must be based on realistic facts and perspectives. Only then will society regain hope and support the government's efforts."
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tagesschau.de - Germany | Wednesday, 20. June 2012
The speed with which a new government was formed in Greece is seen as a good sign by the news portal tagesschau.de. It hopes the new Prime Minister Antonis Samaras is up to the task: » more
The speed with which a new government was formed in Greece is seen as a good sign by the news portal tagesschau.de. It hopes the new Prime Minister Antonis Samaras is up to the task: "In the past three years as opposition leader Samaras distinguished himself not as part of the solution but as part of the problem. He pursued such a destructive policy of obstruction that many conservatives in Greece - and Europe - lost any confidence they had in his political abilities. And rightly so. … Nevertheless things may be different with his present government, but only if the coalition partners work together and not against one another. All too often in Greek politics, positive approaches are destroyed by clientelism and self-interested intrigues. Samaras was always a master on that score. For the good of Greece is it to be hoped that the new government will be spared this fate."
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All available articles from » Reinhard Baumgarten
To Vima Online - Greece | Wednesday, 20. June 2012
In crisis-ridden Greece, the conservative Nea Dimokratia (ND) party, the socialist Pasok party and the Democratic Left (Dimar) plan to form a government this Wednesday. The parties must succeed, writes the left-liberal online paper To Vima: » more
In crisis-ridden Greece, the conservative Nea Dimokratia (ND) party, the socialist Pasok party and the Democratic Left (Dimar) plan to form a government this Wednesday. The parties must succeed, writes the left-liberal online paper To Vima: "The country needs a government right now to regain stability and create the preconditions for fighting the recession. There can be no delays. … If the situation does stabilise, if the banks are recapitalised and there are quick changes for the better, the interest of the investors will increase and the country will get back on its feet. These challenges are enormous. But if they aren't met, new disasters and undesirable conflicts will result. This must not be allowed to happen. Because then there will be no winners or losers - just victims."
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All available articles from » Antonis Karakousis
Main focus of Tuesday, 19. June 2012
Following the parliamentary elections in Greece the conservative Nea Dimokratia party and the socialist Pasok plan to form a government today, Tuesday. Both support the ... » more
Following the parliamentary elections in Greece the conservative Nea Dimokratia party and the socialist Pasok plan to form a government today, Tuesday. Both support the country's austerity programme. The result of the election may have bought Europe some time but the country's bankruptcy is far from averted, commentators write.
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Népszava - Hungary | Tuesday, 19. June 2012
After the elections in Greece German Chancellor Angela Merkel will be forced to soften her stance on the EU's austerity requirements whether she likes it or not, writes the leftist daily Népszava: » more
After the elections in Greece German Chancellor Angela Merkel will be forced to soften her stance on the EU's austerity requirements whether she likes it or not, writes the leftist daily Népszava: "The German chancellor is already being called 'Frau No' because she won't hear of relaxing the austerity policy. Last Saturday she announced once again that the credit agreement with Greece should not be altered. … At this point no one knows whether Greece will ever be able to clear its debts of approximately 327 billion euros. … This is questionable also because the Greek gross domestic product is dwindling from year to year while unemployment has already climbed to over 22 percent. … Greece is more divided than ever. But not only Greece must change and finally do its homework. Europe, too, must take on a new direction under Angela Merkel's leadership. For one thing is clear: the present course cannot continue."
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All available articles from » Tamás Rónay
Protagon - Greece | Tuesday, 19. June 2012
Politicians all over the world are expressing relief at the outcome of the election in Greece and warning that the reforms should continue. The news portal Protagon finds this ominous: » more
Politicians all over the world are expressing relief at the outcome of the election in Greece and warning that the reforms should continue. The news portal Protagon finds this ominous: "For those who haven't understood or pretend not to have understood: The Europeans haven't just expressed their relief because there is now a last chance to normalise the situation in the Eurozone. Some friends in Brussels and Berlin … are stressing that this 'relief' is down to the fact that now everyone has a little more time to prepare for the worst-case scenario, namely Greece's bankruptcy within the Eurozone. The new government that may be formed as soon as today has no time for little games among the coalition parties. Because what it has now is a little less than its last chance."
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All available articles from » Antonis Fourlis
Delo - Slovenia | Tuesday, 19. June 2012
The victory of the conservative Nea Dimokratia in the Greek parliamentary elections is the result of the pressure and threats from Europe, the left-liberal daily Delo concludes: » more
The victory of the conservative Nea Dimokratia in the Greek parliamentary elections is the result of the pressure and threats from Europe, the left-liberal daily Delo concludes: "The warnings were almost apocalyptic. If the radicals had won the election the banks would have been besieged and the capital flows from abroad cut off. Greece would have had to say goodbye to the euro. … The message from Europe was clear: if you don't stick to the austerity terms you will go bankrupt, because without us you won't receive any more money. This kind of more or less open threat had a pretty strong impact on the way the Greeks cast their votes in the parliamentary election. … But it remains unclear how the most influential agents will be able to retain their credibility while exerting such pressure on Greece. It's as if the decision that Greece must stay in the Eurozone whatever the cost had already been made, because all the other solutions are even more expensive and risky."
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All available articles from » Peter Žerjavič
Blog Arrastão - Portugal | Tuesday, 19. June 2012
Even if the left-wing alliance Syriza hasn't managed the leap into government in the Greek elections the success of party leader Alexis Tsipras will influence European politics, writes Daniel Oliveira in his blog Arrastão, noting that Tsipras achieved "a major feat: » more
Even if the left-wing alliance Syriza hasn't managed the leap into government in the Greek elections the success of party leader Alexis Tsipras will influence European politics, writes Daniel Oliveira in his blog Arrastão, noting that Tsipras achieved "a major feat: in just three years he has sextupled the election result of his party. But this wasn't enough to win the election. The Eurocrats and Ms. Merkel breathed a sigh of relief. Their blackmailing tactics and the unprecedented interfering in the political life of an EU member state don't detract from the democratic legitimacy of the Greek elections. Europe didn't receive the blow it urgently needs so as not to self-destruct. … But with its results and the losses of the troika parties Syriza has managed to ensure that not everything stays the same as it was. Greece has failed to give the impetus for a rebirth of European policy but at least it has given people a fright the effects of which will last for a while."
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Süddeutsche Zeitung - Germany | Monday, 18. June 2012
The conservative Nea Dimokratia (ND) has emerged as the strongest party from the parliamentary election. But a government led by party leader Antonis Samaras might not last for long, the left-liberal daily Süddeutsche Zeitung surmises: » more
The conservative Nea Dimokratia (ND) has emerged as the strongest party from the parliamentary election. But a government led by party leader Antonis Samaras might not last for long, the left-liberal daily Süddeutsche Zeitung surmises: "Tsipras will be quite happy with the second place because now he won't have to try and square the circle by trying to stay in the Eurozone while casting the terms of the creditors to the wind. … Greek media are already speculating that a government led by Samaras won't last for long in view of the unfortunate state of the country, which didn't improve one bit with election day. Once Samaras' governing skills have come to an end Tsipras will still be there, a fresh alternative who promises to let the Greeks keep on dreaming. Or get used to the return of the drachma. That's why the shrewd politician Evangelos Venizelos, leader of the Pasok Socialists, is calling for Tsipras to be involved in the new government - whatever form this may take. The games will go on."
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All available articles from » Christiane Schlötzer
De Morgen - Belgium | Monday, 18. June 2012
The elections in Greece have exposed the divisions within the country, writes the left-liberal daily De Morgen: » more
The elections in Greece have exposed the divisions within the country, writes the left-liberal daily De Morgen: "The Greek crisis is taking place in an explosive atmosphere of confrontation. Many fear tensions and violence in the country. … This atmosphere is creating an emotional climate in which politicians, stock traders and citizens tend to be tempted to commit foolish deeds. To overcome this crisis the confrontation must be ended. It must cool down. This won't be easy, but there are more than enough common interests with which to begin a fruitful dialogue. All the major Greek parties are against exiting the euro and also basically agree that the imposed austerity measures should not be allowed to destroy the middle class. Yet precisely this is what is happening. … It's no use to anyone if the middle class collapses and the economy falls into a deep coma. In this respect the current austerity plan can be seen as a momentous error. It's time Merkel and Co. admitted this."
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All available articles from » Koen Vidal
La Vanguardia - Spain | Monday, 18. June 2012
The generous aid for Spain's banks and the influence of the French Socialists on European policy have had a positive impact on the election outcome in Greece, observes the liberal daily La Vanguardia: » more
The generous aid for Spain's banks and the influence of the French Socialists on European policy have had a positive impact on the election outcome in Greece, observes the liberal daily La Vanguardia: "A few rays of light appeared on Greece's dark horizon when the Socialist François Hollande - an advocate of growth incentives to complement the austerity policy - won the presidency in France and rounded off his victory with an absolute majority in the parliamentary elections yesterday. At the same time the 100 billion bailout for the Spanish banks signalled an important change in European policy vis-à-vis beleaguered states. Both Hollande and the bailout for Spain have helped Antonis Samaras to give the depressed Greeks a little hope. And this no doubt contributed to common sense prevailing in the elections."
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To Vima Online - Greece | Monday, 18. June 2012
The desire of the Greeks to remain part of Europe was decisive in the parliamentary election, explains the left-liberal online paper To Vima: » more
The desire of the Greeks to remain part of Europe was decisive in the parliamentary election, explains the left-liberal online paper To Vima: "Most Greeks are relieved. They feel that they have emerged from a major escapade and banished the threat of a sudden death of the Greek economy. The voters have given the so-called system forces one more chance and a little more time. They don't want to sacrifice their European status in the blink of an eye. They know that it was hard fought for and shouldn't be thrown away when the first problems emerge. The Greeks don't want to lose their contact with Europe and its institutions. Mr Tsipras and his party underestimated this desire among the Greek people. But it shaped their voting behaviour."
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Lidové noviny - Czech Republic | Monday, 18. June 2012
After the parliamentary elections in Greece nothing points to a governing coalition led by Nea Dimokratia being able to lead the country out of the crisis, the conservative daily Lidové noviny writes: » more
After the parliamentary elections in Greece nothing points to a governing coalition led by Nea Dimokratia being able to lead the country out of the crisis, the conservative daily Lidové noviny writes: "The Greeks have irrationally said: Let us keep the euro but don't tell us that we're living beyond our means. … The citizens had the choice between young radicals and the old school that landed the country in its present mess. A coalition under the conservatives' leadership will be weak. Nothing points to them managing the country any better that it has been managed in the past twenty years. The second cause for uncertainty is foreign opinion. Germany must decide whether it wants to keep Greece in the Eurozone. … As long as this remains unclear the Greeks may as well hold new elections every six months."
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All available articles from » Martin Weiss
Diário de Notícias - Portugal | Friday, 15. June 2012
Europe is awaiting the parliamentary election in Greece on Sunday, which is widely perceived as vote on whether the country should stay in the Eurozone, with bated breath. But instead of putting together a clear crisis strategy the EU is drifting into a state of total disorientation, the daily Diário de Notícias criticises: » more
Europe is awaiting the parliamentary election in Greece on Sunday, which is widely perceived as vote on whether the country should stay in the Eurozone, with bated breath. But instead of putting together a clear crisis strategy the EU is drifting into a state of total disorientation, the daily Diário de Notícias criticises: "Europe is like an overexcited anthill ahead of an important event. There's no end of demands, statements and coded messages but yet again there's no sign of a clear and integrated approach. … Europe just can't seem to calm down on the financial front. Why not? For the simple reason that no one knows which direction it is moving in. Germany and France are toying with the idea of a banking union. … From Merkel we also hear calls to strengthen the political union, but this idea remains vague. So with such a state of affairs no one can believe in Europe."
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To Vima Online - Greece | Wednesday, 13. June 2012
According to media reports the Greeks have been withdrawing between 100 and 500 million euros a day from their bank accounts.The left-liberal daily To Vima warns people not to succumb to panic: » more
According to media reports the Greeks have been withdrawing between 100 and 500 million euros a day from their bank accounts.The left-liberal daily To Vima warns people not to succumb to panic: "Driven by the uncertainty and fear resulting from the current political instability, thousands of our fellow citizens are trying to protect themselves without realising that they are only making the problem worse and intensifying the crisis. If social peace and the economy are destroyed, if violence and lawlessness gain the upper hand, any deposits abroad will be worth little. We must not wreck our own country. It still has opportunities and energy. The bank deposits are not in danger. But they will be if panic becomes widespread. By thinking logically we can jointly prevent this from happening."
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Upsala Nya Tidning - Sweden | Thursday, 14. June 2012
In the run-up to the elections in Greece on Sunday the liberal daily Upsala Nya Tidning expresses concern about the state of the country and fears that it will slide into anarchy whatever the outcome of the vote: » more
In the run-up to the elections in Greece on Sunday the liberal daily Upsala Nya Tidning expresses concern about the state of the country and fears that it will slide into anarchy whatever the outcome of the vote: "The Greeks' trust in their politicians continues to diminish, and with good reason. They have no hope for the future any more. What is needed is a fresh start with a new generation that is not bogged down by the old mentality. But how can such a revolution come about? Simple having a new party in power will hardly be enough to achieve this. … If they vote against the euro, the new currency would be devalued by 50 percent, which would wreak havoc in the country. If they vote for the euro and the tough cutbacks and large structural changes, chaos will also ensue."
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All available articles from » Gunvor Hildén
Voxpublica - Romania | Thursday, 14. June 2012
The parliamentary elections in Greece will decide whether the country remains in the Eurozone or not, writes the blog portal Voxpublica: » more
The parliamentary elections in Greece will decide whether the country remains in the Eurozone or not, writes the blog portal Voxpublica: "Whatever the election results, the next government in Athens will inherit a frightening economic and social situation that immediately poses the question of just how long it can remain in office. A rejection of the agreement with the IMF and the EU such as the front-runner in the opinion polls [the left alliance Syriza] is planning would mean a quicker bankruptcy and an unavoidable exit from the Eurozone. However if the Greeks do manage to form a government that adheres to the international agreements, it will have to pass additional austerity measures. ... By June 30, the government must present its international creditors with details of how it plans ... to sink public spending. ... Doubts over whether Greece is able to do that - regardless of who wins the elections - are already deepening the sovereign debt crisis that spans Southern Europe."
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All available articles from » Daniel Oanta
Blog Ignacio Escolar - Spain | Tuesday, 12. June 2012
News agency Reuters reported on Monday that the EU is working out an emergency plan for the event that Greek exits the Eurozone. Ignacio Escoal analyses two different interpretations of this news in his blog: » more
News agency Reuters reported on Monday that the EU is working out an emergency plan for the event that Greek exits the Eurozone. Ignacio Escoal analyses two different interpretations of this news in his blog: "Reuters reports: The EU is preparing emergency plans that include limits on the amount of money that can be withdrawn from cash points and monitoring of capital flows in Greece 'and other countries'. If this is true - and everything points to this being the case - it can only mean two things. The bad version: The EU is trying to scare the Greeks to deter them from voting for Syriza (whose programme should be read in order to understand the situation). Or the even worse version: The possibility of Greece's exit from the Eurozone is already so real that not even the EU's politicians dare to rule it out. … It is unwise to put Greece under pressure with such an undemocratic and risky threat - expelling the country from the Eurozone if Syriza wins would be ruinous for Europe, too. However it is wise to prepare for the unlikely but possible collapse of the euro."
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All available articles from » Ignacio Escolar
To Vima Online - Greece | Thursday, 7. June 2012
During a political talk show on Thursday Ilias Kasidiaris, the leader of the neo-Nazi party Chrysi Avgi, attacked Liana Kanelli, a member of the Communist Party, slapping her twice and punching her. This was a blow to democracy itself, the left-liberal online paper To Vima comments, shocked, and warns of the threat of civil war: » more
During a political talk show on Thursday Ilias Kasidiaris, the leader of the neo-Nazi party Chrysi Avgi, attacked Liana Kanelli, a member of the Communist Party, slapping her twice and punching her. This was a blow to democracy itself, the left-liberal online paper To Vima comments, shocked, and warns of the threat of civil war: "Our democracy is our last chance. We must defend it with all means possible. Today it has received a resounding blow. … Every Greek must understand that when democracy is at stake, the country itself is in danger. … If we don't grasp this now then we will not only be on the way to exiting the euro and Europe but also heading towards the absolute catastrophe that we must finally call by its right name: civil war. We must not allow anyone to lead us there and we must not make ourselves complicit by remaining silent."
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Blog Giannis Albanis - Greece | Tuesday, 5. June 2012
The crisis in Greece is affecting the country's healthcare system. Many pharmacies are only selling medications for cash. As of this Wednesday cancer patients who cannot afford to pay cash in advance are to receive their medication once again. Blogger Giannis Albanis is amazed at the third-world conditions in his country and mourns the lost Europe of his parents' generation: » more
The crisis in Greece is affecting the country's healthcare system. Many pharmacies are only selling medications for cash. As of this Wednesday cancer patients who cannot afford to pay cash in advance are to receive their medication once again. Blogger Giannis Albanis is amazed at the third-world conditions in his country and mourns the lost Europe of his parents' generation: "The plight of the cancer patients is irrefutable proof that Nigeria (the country Madame Lagarde feels so much pity for) is not somewhere far away but here in our very own country, within the Eurozone. … If for our parents Europe meant prosperity, democracy and the welfare state and Nigeria represented poverty, corruption and authoritarianism, we must now admit that things have changed dramatically for our generation. Here there is misery, corruption and authoritarianism while elsewhere there is a social welfare state and democracy - where, precisely, we don't know. A country where there is no medication for cancer patients does not belong in Europe, certainly not the fantastic Europe of our parents. Greece in 2012 belongs to a different Europe: the continent of the EU and the IMF, that has been destroyed by the markets."
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Naftemporiki - Greece | Tuesday, 5. June 2012
With the 17 June elections in mind, politicians in Greece are increasingly evoking the possibility of renegotiating the tough austerity measures with creditors. The conservative business paper Naftemporiki writes that Athens can't reject the austerity package without making a counter-proposal: » more
With the 17 June elections in mind, politicians in Greece are increasingly evoking the possibility of renegotiating the tough austerity measures with creditors. The conservative business paper Naftemporiki writes that Athens can't reject the austerity package without making a counter-proposal: "We never stop hearing that the austerity package must be partially or entirely renegotiated with creditors, without anyone saying specifically how that can be done. ... We can't convince the foreign technocrats to back off on the unpleasant austerity measures if we don't propose comparable measures and a concrete growth plan in return. ... We shouldn't forget that we will have to negotiate with the troika under very difficult conditions after the elections. The next government will have an empty treasury and must request the release of the next tranche in June. Under such conditions this government will not be able to effect a change to the austerity package if the investors don't want it or aren't convinced of its merits."
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All available articles from » Panos Kakouris
Le Monde - France | Friday, 25. May 2012
The EU heads of state and government clearly want to keep Greece in the Eurozone. But the country's exit is the most reasonable long-term solution ... » more
The EU heads of state and government clearly want to keep Greece in the Eurozone. But the country's exit is the most reasonable long-term solution even if it means the end of the euro, writes economist Jacques Sapir in a commentary in the left-liberal daily Le Monde. "Either the EU countries affirm their willingness to invest in the Greek economy, enabling it to at least partially recover its competitiveness, which has sunk by 35 per cent since 2002. Or it will be necessary to opt for a Greek exit from the Eurozone and a major devaluation (50 per cent) of the drachma. This solution, as hard as it is, is preferable to continuing the austerity policy agreed on by the troika and Greece. ... Such a solution would probably be a death knell for the euro. But this death knell has already sounded with the Spanish crisis and the return of the Irish crisis."
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All available articles from » Jacques Sapir
Protagon - Greece | Thursday, 24. May 2012
Greece has seen capital flight soar since the May 6 election. Within a few days around 700 million euros were reportedly withdrawn from banks. News portal Protagon fears that the money will never return: » more
Greece has seen capital flight soar since the May 6 election. Within a few days around 700 million euros were reportedly withdrawn from banks. News portal Protagon fears that the money will never return: "The largest sums are sent to Switzerland or exotic places where offshore companies are based. Naturally, investing in real estate in the UK is still a secure refuge, as are deposits in the pound sterling, which rose considerably last week. ... If the money withdrawn from Greek accounts hasn't been sent abroad it's stuck under mattresses or behind walls. Every day we wake up to an unprecedented economic situation that is more reminiscent of war than peace."
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All available articles from » Kostas Giannakidis
Welt am Sonntag - Germany | Sunday, 20. May 2012
The Greeks are receiving preferential treatment in Europe simply because 2,500 years ago they invented democracy and the Olympic Games, columnist Berthold Seewald complains in the conservative weekly Welt am Sonntag: » more
The Greeks are receiving preferential treatment in Europe simply because 2,500 years ago they invented democracy and the Olympic Games, columnist Berthold Seewald complains in the conservative weekly Welt am Sonntag: "But the ensuing 2,500 years are ignored: the fact that after the Greek, Celtic, Germanic, Slavic, Avarian, Bulgarian and Turkish invasions, there was hardly anything left; that Greek Orthodoxy has developed neither a monastic work ethos nor commitment to public welfare; that the clan and clientele structures left over from 400 years of Turkish rule are still very much alive. …Two key words determine the rhetorical impact of the problem: democracy and sustainability. Democracy was invented 2,500 years ago in Greece, while sustainability is linked to the realisation that at some point we need to find a balance between the available resources and our needs, because as we all know, our planet's resources are limited. … Greece stands as a reminder of the most important political experiment in history and of the surrender of a society in the distribution of privation. The one is a glorious past, the other a tormented future."
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All available articles from » Berthold Seewald
Süddeutsche Zeitung - Germany | Wednesday, 16. May 2012
With an eye to the new elections in June, Greece's politicians and the troika must be willing to make concessions, the left-liberal daily Süddeutsche Zeitung comments: » more
With an eye to the new elections in June, Greece's politicians and the troika must be willing to make concessions, the left-liberal daily Süddeutsche Zeitung comments: "To that end the leftist alliance Syriza must also be prepared to take off its blinkers. The party acts as if the debt crisis didn't exist. ... Syriza rejects the 'austerity dictates', citing the popular will as its justification. But that is only half of the truth. 80 percent reject the austerity package, however as confused as the Greeks are at the moment, 80 percent also want to remain in the euro. Syriza claims both are possible. Reality will teach it otherwise. Until then, the party must change from a protest movement into a party capable of executing policies. ... Regardless of who is elected in June: the EU and IMF will have to accommodate Athens to a certain extent, otherwise this new government won't last long either. In the long run you can't govern against the majority of the people. Unless you're ready to put democracy on the line."
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All available articles from » Kai Strittmatter
Neue Zürcher Zeitung - Switzerland | Wednesday, 16. May 2012
According to the polls the left-wing alliance Syriza led by Alexis Tsipras could emerge as the strongest force from the elections. But Syriza's slogans are unrealistic and change nothing as regards the necessary course of consolidation, writes the liberal-conservative daily Neue Zürcher Zeitung: » more
According to the polls the left-wing alliance Syriza led by Alexis Tsipras could emerge as the strongest force from the elections. But Syriza's slogans are unrealistic and change nothing as regards the necessary course of consolidation, writes the liberal-conservative daily Neue Zürcher Zeitung: "When the left-wing tribune declares that Greece can discontinue its austerity efforts and still remain in the Eurozone because the West is just bluffing it makes a huge mistake. The room to negotiate is by no means as ample as Tsipras is trying to tell people it is. He must also realise that the country can't go forward without belt-tightening and painful structural reforms, whether it remains in the Eurozone or reverts to the drachma. This would be an honest message. But if the Greeks want to believe Tsipras' seductive slogans their decision must be respected."
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Naftemporiki - Greece | Wednesday, 16. May 2012
The voters should see the new elections as a referendum on whether Greece should stay in the Eurozone, writes the conservative business paper Naftemporiki: » more
The voters should see the new elections as a referendum on whether Greece should stay in the Eurozone, writes the conservative business paper Naftemporiki: "Only in this way can we prevent politicians from interpreting the results as they see fit. ... Both before and after the May 6 elections, everyone talked about the austerity package and not about the euro. And all the polls show that more than 80 percent of Greeks want to keep the euro. … Two years of harsh austerity, recession, Greek mistakes and European experiments weren't long enough to quell people's desire to stay in the Eurozone. … Because we know or suspect that without international creditors we won't receive any more money. And unfortunately we can't yet survive without loans."
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Duma - Bulgaria | Wednesday, 16. May 2012
The news that there will be no formation of a government of experts in Greece is a welcome development in the eyes of the socialist daily Duma: » more
The news that there will be no formation of a government of experts in Greece is a welcome development in the eyes of the socialist daily Duma: "The technocrats are never on the side of the man on the street because they are the guardians of big capital. Those responsible for the crisis are trying to conceal their guilt and avoid their responsibility by appointing these experts. ... The idea of putting technocrats in charge of politics is like putting the commander of a concentration camp in charge of a hospital. Thank God Europe still has healthy social and political instincts that have ensured that the Greeks opt for new elections instead of a cabinet of experts. … It's a good thing this is still possible today. In a different world shares in government would be traded on stock markets, stock traders would be political engineers and Goldman Sachs would be able to buy a stake even in the Vatican."
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Corriere del Ticino - Switzerland | Tuesday, 15. May 2012
Greek President Karolos Papoulias has proposed the formation of a government of experts as a solution to the government crisis in his country. He plans to meet all the party leaders today - with the exception of the leader of the fascists - to discuss this possibility. If the talks fail new elections on June 10 or 17 would likely be inevitable. This is precisely what the boss of the leftist alliance Syriza, Alexis Tsipras, is hoping for, writes the liberal daily Corriere del Ticino: » more
Greek President Karolos Papoulias has proposed the formation of a government of experts as a solution to the government crisis in his country. He plans to meet all the party leaders today - with the exception of the leader of the fascists - to discuss this possibility. If the talks fail new elections on June 10 or 17 would likely be inevitable. This is precisely what the boss of the leftist alliance Syriza, Alexis Tsipras, is hoping for, writes the liberal daily Corriere del Ticino: "If it comes to new elections Greece could well end up in the hands of the radical Left, which according to the polls would gain ground and emerge as the strongest force in parliament. The prospect of an election victory strengthens the position of this party in a country where the political camps are at loggerheads over the austerity measures. This is why Tsipras is taking a gamble and insisting that any new government - be it a cabinet of technocrats or one that emerges from new elections - must annul the austerity programme and instead rely on a consistent bailout package from the European Community and the International Monetary Fund."
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De Volkskrant - Netherlands | Monday, 14. May 2012
Greece's President Karolos Papoulias was unable to get the parties to agree on forming a government on Sunday. This makes fresh elections from which the leftist coalition Syriza under Alexis Tsipras could emerge the strongest force all the more likely. Even if it means running the risk of political uncertainty, Europe's leaders should not put Greece under pressure, the left-liberal daily De Volkskrant writes: » more
Greece's President Karolos Papoulias was unable to get the parties to agree on forming a government on Sunday. This makes fresh elections from which the leftist coalition Syriza under Alexis Tsipras could emerge the strongest force all the more likely. Even if it means running the risk of political uncertainty, Europe's leaders should not put Greece under pressure, the left-liberal daily De Volkskrant writes: "Most likely Greece will go in the direction of exiting the Eurozone. Greece will then be barred from foreign loans for years, even more businesses will go bankrupt and there will probably also be a run on the banks because people will want to withdraw their euros before the switch to a new currency. ... New elections in Greece also mean more uncertainty for the rest of the EU. But if European leaders put the Greeks under too much pressure they run the risk of playing into the hands of opponents to austerity. In the end the Greeks must decide the future of their country for themselves."
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To Vima Online - Greece | Sunday, 13. May 2012
As Greece still struggles to form a new government the calls for the country's exit from the Eurozone are growing louder. German Finance Minister Wolfgang Schäuble has said that the Eurozone is more resilient now than two years ago and could survive Greece's exit if necessary. The left-liberal online paper To Vima voices deep concern at this latest development: » more
As Greece still struggles to form a new government the calls for the country's exit from the Eurozone are growing louder. German Finance Minister Wolfgang Schäuble has said that the Eurozone is more resilient now than two years ago and could survive Greece's exit if necessary. The left-liberal online paper To Vima voices deep concern at this latest development: "For Greece it would be a great misfortune to lose all that it has struggled so hard to gain with EU membership. It would be a huge national defeat that would plunge us into the abyss, quite apart from the threats to national security [tense relations with Turkey] that arise in such situations. … Each of us is aware of the dangers. The current situation demands that we all join forces in the battle to avoid an unprecedented national defeat. History will free no one of the responsibility for a defeat that could have been avoided."
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The Economist - United Kingdom | Friday, 11. May 2012
A Greek exit from the Eurozone entails opportunities and risks, both for Greece and for the rest of the euro countries, the liberal weekly magazine The Economist writes: » more
A Greek exit from the Eurozone entails opportunities and risks, both for Greece and for the rest of the euro countries, the liberal weekly magazine The Economist writes: "An exit, and the ensuing default, would lighten its debt, re-establish competitiveness and challenge its politicians to grasp their own destiny. Yet leaving the euro would also create chaos and destroy savings and, as often in the past, its advantages might rapidly inflate away. The rest of the euro zone is also better off with Greece 'in', if only because of the risk of contagion (and the inadequate preparations for that). But again, not at any price. If Greece rejects the second bail-out or falls drastically behind in its programme, its exit could become inevitable."
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NRC Handelsblad - Netherlands | Friday, 11. May 2012
The impact of Greece exiting the Eurozone would be virtually immeasurable and could ultimately affect taxpayers, warns the liberal daily NRC Handelsblad: » more
The impact of Greece exiting the Eurozone would be virtually immeasurable and could ultimately affect taxpayers, warns the liberal daily NRC Handelsblad: "For Greece, where half of the electorate voted ruthlessly against Europe, exiting the Eurozone entails the risk of impoverishment the likes of which the country hasn't witnessed in four decades. But the reckless behaviour of Athens' politicians, always polarising and isolating their country, also affects Europe. … A euro exit would cost the European Central Bank roughly 30 billion in write-offs; the total amount is incalculable. Also the fact that the major banks would be spared since they hardly have any Greek bonds on their balance sheets doesn't mean much. Via the EFSF the bill can still be passed on to the nation states and ultimately to European taxpayers. Then there's the risk of a domino effect, especially for Spain. … This is all cause for major concern."
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Le Figaro - France | Thursday, 10. May 2012
Europe's policy with regard to Greece must not change even in the wake of the parliamentary elections, writes the conservative daily Le Figaro, because allowing Greece to exit the Eurozone would be fraught with risk: » more
Europe's policy with regard to Greece must not change even in the wake of the parliamentary elections, writes the conservative daily Le Figaro, because allowing Greece to exit the Eurozone would be fraught with risk: "Increasingly you hear that the sacrifices demanded of the Greeks are excessive and undermine the economy. That is no doubt true, and the model may well have to be reworked. But with or without François Hollande's growth pact, Greece will not escape a drastic austerity cure if it wishes to retain the euro. Although it has been consistently opposed by the Left, this political line of give and take Europe has followed until now remains the wisest course. Apart from ensuring Greece's downfall, a euro exit would create a dangerous precedent and give way to an extremely perilous situation for Europe itself. Who can believe that other countries that are most fragile, starting with Spain, will escape the contagion? And that an uncontrolled domino effect would not then sweep away everything in its path? Europe is duty-bound to avoid such a risk."
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Le Monde - France | Thursday, 10. May 2012
The elections in France and Greece have shown that extremist parties are gaining ever more ground, something the traditional major parties have no answer to, the left-liberal daily Le Monde comments: » more
The elections in France and Greece have shown that extremist parties are gaining ever more ground, something the traditional major parties have no answer to, the left-liberal daily Le Monde comments: "Whether it's right- or left-wing extremists who are questioning current European policy, or parties on the fringes of the system: these movements are causing the traditional political formations to falter. This holds particularly for the large political currents that have spearheaded the European project for decades. The economic and debt crises have also played a role in destabilising the major parties, in creating a problem shared by every political force in Europe. ... But until now no one has been able to face up to the challenge: it seems that none of Europe's institutions or movements has an answer at the ready. The big parties must lose no time in getting down to work."
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Hospodárske noviny - Slovakia | Thursday, 10. May 2012
The Eurozone should not transfer more money to Greece while calling for reforms but simply exclude the country from the monetary union, writes the business paper Hospodárske noviny: » more
The Eurozone should not transfer more money to Greece while calling for reforms but simply exclude the country from the monetary union, writes the business paper Hospodárske noviny: "For two years Greece has been traumatising the Eurozone. If the prognoses are correct, the anti-European parties would gain further support in the event of new elections in June. Yet despite the political uncertainty the Greeks are receiving a further tranche of several billions today. The German Finance Minister Wolfgang Schäuble believes Athens has no choice and must press ahead with the reforms. Schäuble is wrong. Athens doesn't have to do anything. It's the Eurozone that needs to make a move. It must stop pumping money into Greece and oust Greece from the Eurozone, thereby ridding itself of a country that is as big as a parasite and behaves like one too."
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Kouti tis Pandoras - Greece | Wednesday, 9. May 2012
According to the most recent surveys the leftist alliance Syriza would emerge the strongest party from fresh elections. On the web portal To Kouti tis Pandoras, blogger Kostas Vaxevanis says he can't understand why people are so afraid of a left-wing government in Greece: » more
According to the most recent surveys the leftist alliance Syriza would emerge the strongest party from fresh elections. On the web portal To Kouti tis Pandoras, blogger Kostas Vaxevanis says he can't understand why people are so afraid of a left-wing government in Greece: "A spectre is haunting Europe. … The ghost of Alexis Tsipras. For all those who haven't understood yet: all Europe is in peril if Tsipras comes into power. And everything our government has so carefully constructed will collapse. … But seriously now, the situation is pretty chaotic. It has been for three years because of the harsh austerity policy. … I'm not trying to defend Tsipras, or Kouvelis, or Kammenos [left- and right-wing leaders who reject the austerity policy]. I simply find it embarrassing for our democracy when - as back in the 1950s - everyone fears that the communists will take away our property and women. … I don't know whether or how Tsipras would govern. But both I and everyone else know exactly how the other politicians governed."
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ABC - Spain | Wednesday, 9. May 2012
The election outcome in Greece may make the country's exit from the » more
The election outcome in Greece may make the country's exit from the
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euinside - Bulgaria | Tuesday, 8. May 2012
Greece has no time to lose now because its creditors are at the end of their tether, warns the web portal euinside: » more
Greece has no time to lose now because its creditors are at the end of their tether, warns the web portal euinside: "Tsipras has two days to build a majority, but even with the support of the socialists, the communists and the democratic Left he won't be able to achieve this. Then the mandate goes to the Pasok party, which in all likelihood will also fail. … The most likely consequence is fresh elections with an entirely unforeseeable outcome. But wasting time is the last thing Greece can afford to do in its present situation. The reaction of the financial markets makes this clear. For two years now the country has been hanging on from one tranche to the next. But the times when credit was given out of pity without the conditions being fulfilled are over. The deal now is: first cut spending and push through reforms and then you get the money. If the next tranche isn't paid out, the citizens of Greece must be prepared to pay the consequences of their vote."
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Salzburger Nachrichten - Austria | Wednesday, 9. May 2012
The Greek traditional parties Nea Dimokratia and Pasok should disband as quickly as possible, writes the Christian-liberal daily Salzburger Nachrichten, because they are to blame "for the fact that the state is rotten to the core and has been stripped bare of all its assets. ... Nea Dimokratia and Pasok lack both credibility and political morals. They are incapable of motivating society to make a fresh start. Reform and change are foreign concepts to them. Yet that would be the first, crucial step: » more
The Greek traditional parties Nea Dimokratia and Pasok should disband as quickly as possible, writes the Christian-liberal daily Salzburger Nachrichten, because they are to blame "for the fact that the state is rotten to the core and has been stripped bare of all its assets. ... Nea Dimokratia and Pasok lack both credibility and political morals. They are incapable of motivating society to make a fresh start. Reform and change are foreign concepts to them. Yet that would be the first, crucial step: we take on the challenge, we build a new state, a real one this time, and our partners in the EU help us to do it. Enough of playing the victim. Nea Dimokratia and Pasok are masters of cheating, disguise and deception. That's over now. They should dissolve themselves and make way for new parties. Greece would thank them for it."
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Blog Spiegelfechter - Germany | Wednesday, 9. May 2012
Mirroring the reaction of the financial lobby, numerous German media have registered concern at the election results in Greece and France, writes Jens Berger in his blog Der Spiegelfechter: » more
Mirroring the reaction of the financial lobby, numerous German media have registered concern at the election results in Greece and France, writes Jens Berger in his blog Der Spiegelfechter: "Instead of accepting and respecting the popular vote, the German press prefers to point with feigned distance at the presumed reaction of the financial markets and prophesies a 'crisis of confidence' in the Eurozone. Admittedly, they're not talking about the trust of the citizens but that of financial speculators. Because the citizens lost their trust in politicians representing their interests long ago. Hence it must be asked whether the media, which openly put the interests of the elites and the financial lobby over those of the people, still reflect the free democratic basic order at all. ... The once proud magazine Der Spiegel complains on its online portal about the 'uncertainties after the French and Greek elections'. ... In the same pessimistic tone the newspaper Die Welt fears that 'the election results in France in Greece [will fan] investors' fears of an end to austerity'."
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Kathimerini - Greece | Wednesday, 9. May 2012
Greece should test what it's like to have a left-wing government because only then will it understand what this actually means, writes the conservative daily Kathimerini: » more
Greece should test what it's like to have a left-wing government because only then will it understand what this actually means, writes the conservative daily Kathimerini: "Greek society won't be able to find its balance if it doesn't test the alternative in practice. … So now Tsipras' turn has come. He has the task of forming a government and negotiating with the country's creditors. Those who know Europe well know: if Tsipras pushes for a 'selective waiving of most of the debt', as he has said he will do, the country will be expelled from the Eurozone and perhaps from the EU too. … A major problem is that we won't be able to settle down until we have tried out Mr Tsipras' approach. The biggest problem however is that this test could entail huge risks for the country."
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All available articles from » Alexis Papachelas
Público - Portugal | Tuesday, 8. May 2012
The elections in Greece are more important for Europe than those in France because they show whether democracy functions in times of crisis, writes the liberal daily Público: » more
The elections in Greece are more important for Europe than those in France because they show whether democracy functions in times of crisis, writes the liberal daily Público: "There is a major difference between a seismic tremor and an earthquake. Therefore the results of the elections in France will be of far less significance for posterity than the elections in Greece. Hollande's victory will weaken Brussels' austerity dictates, but not change them radically. … As far as Greece is concerned the fears are growing that the country is becoming ungovernable. … France has demonstrated a clear political unity without calling itself into question. However Greece in its desperate situation has destroyed its unity. In this way Greece has become a test balloon for the future of democracy in countries like Portugal."
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To Vima Online - Greece | Tuesday, 8. May 2012
Greece is in a state of anticipation, writes the left-liberal online paper To Vima, because once Hollande has taken office the configuration at the bargaining table will change: » more
Greece is in a state of anticipation, writes the left-liberal online paper To Vima, because once Hollande has taken office the configuration at the bargaining table will change: "Greece is simply playing for time until Hollande is France's new president. Is this important? Very much so. Because at this point no one knows what Hollande will do. If he supports Greece with plans for a new growth policy there will be change. Once Hollande is sitting at the negotiating table the Greek problem could soon come to be regarded as a European one. … Many people in Athens don't realise that Hollande, who is also facing parliamentary votes, can't suddenly change his stance on a European growth policy. He can't suddenly become Sarkozy just because Germany starts exerting pressure. … Now that the Merkozy dictatorship has come to an end, other countries can express a positive stance [towards Greece]."
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All available articles from » Giorgos Malouchos
Financial Times - United Kingdom | Tuesday, 8. May 2012
Greece runs the risk of chaos and a forced exit from the Eurozone should it decide against the austerity plan in the aftermath of Sunday's elections, fears the liberal daily Financial Times: » more
Greece runs the risk of chaos and a forced exit from the Eurozone should it decide against the austerity plan in the aftermath of Sunday's elections, fears the liberal daily Financial Times: "The Greek problem is now so acute that it cannot be 'fixed' through a few cleverly-drafted clauses, added to an EU treaty. It demands real, crunchy and dangerous decisions. Specifically, will Greece press ahead and make further billions of euros worth of budget cuts, within months, as demanded by its most recent bailout deal? If Greece refuses to do this, then the IMF has made clear that it will not authorise the release of the next tranche in aid to Greece. That, in turn, would mean that the Greek government simply ran out of money. Managed, if painful, cuts to pensions and wages would then be replaced by something much more chaotic and dangerous. The forced exit of Greece from the euro would also become much more likely."
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Le Soir - Belgium | Tuesday, 8. May 2012
After the failed attempt to form a government in Greece, France's future president François Hollande must make his move, writes the left-liberal daily Le Soir: » more
After the failed attempt to form a government in Greece, France's future president François Hollande must make his move, writes the left-liberal daily Le Soir: "We must accept the election results and respect them like the other components of a democracy. We must not condemn the Greeks and their country - the Germans in particular must take this to heart as well as other nations of the Eurozone with top grades from the rating agencies. But above all we must get to work and seek a solution! … François Hollande criticised the austerity policy very harshly and very frequently during the election campaign. He repeatedly used Greece as a negative example of its effects. As the freshly elected French president he should turn his attention to the Greek problem and prove that he has what it takes and can do more than churn out empty phrases! Greece and Europe would certainly be thankful for any initiative he takes. And if he's successful this could secure him the authority he still lacks on the international stage."
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Die Presse - Austria | Tuesday, 8. May 2012
The consequences of the Greek elections will be dire, fears the liberal-conservative daily Die Presse: » more
The consequences of the Greek elections will be dire, fears the liberal-conservative daily Die Presse: "To all intents and purposes there can be no talk of a happy end. Because Greece's problem isn't just debts, it is also the dogged stance that has led to the political standstill we are now witnessing. ... You don't need the Oracle of Delphi to see where this will end. If the agreed steps for restructuring the economy really are blocked by the now strengthened populist parties in parliament, the next tranche of emergency loans scheduled for June will hang in the balance. If it comes to fresh elections, the necessary reforms for restructuring the country's policy on expenditures and revenues will ground to a halt for several more months. The standstill will be prolonged and the European donor countries will no longer be able to justify domestically transferring further bailout funds to Athens."
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Kurier - Austria | Monday, 7. May 2012
In the Greek elections the proponents of the austerity programme appear to have fallen short of a majority in parliament. But punishing the two parties Nea Dimokratia and Pasok for their belt-tightening measures and switching allegiance to the radical parties is no solution, writes the left-liberal daily Kurier: » more
In the Greek elections the proponents of the austerity programme appear to have fallen short of a majority in parliament. But punishing the two parties Nea Dimokratia and Pasok for their belt-tightening measures and switching allegiance to the radical parties is no solution, writes the left-liberal daily Kurier: "Behind the beacon of the angry voters was more than the mere wish to send all those politicians to the devil who have caused the biggest loss of wealth in decades. Many of the Greeks who this time voted for the far left or the distinctly unappetising far right simply wanted an end to the austerity that is tightening the belt to the point of suffocation. Less cuts and job losses and more growth - that's what they want. But with growth it's the same as with world peace - everybody wants it but the formula still hasn't been invented. And the radical parties whose only demand is 'Stop the debt repayments' certainly won't provide it."
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Naftemporiki - Greece | Monday, 7. May 2012
The winner of the elections in Greece is the left-wing alliance Syriza, which according to estimates will be the second-strongest faction in the parliament. Syriza doesn't want the country to repay its debts but wants it to remain in the monetary union. For their part the supporters of the austerity programme have narrowly missed a parliamentary majority. The conservative business paper Naftemporiki urges the parties to focus on forming a viable government: » more
The winner of the elections in Greece is the left-wing alliance Syriza, which according to estimates will be the second-strongest faction in the parliament. Syriza doesn't want the country to repay its debts but wants it to remain in the monetary union. For their part the supporters of the austerity programme have narrowly missed a parliamentary majority. The conservative business paper Naftemporiki urges the parties to focus on forming a viable government: "The people have sent an ambivalent message: yes to Europe and no to austerity. … The problems that existed before the elections still exist now and urgently need answers. … The time for the parties to act has come, and they must now prove that Greece's political landscape is capable of renewal and presenting solutions through parliamentary procedures that require joint positions and a consensus. Time is running out. In the next few days there will be rapid developments both within the country and outside it."
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To Vima Online - Greece | Friday, 4. May 2012
Among other things the early parliamentary elections in Greece on Sunday will decide whether or not the harsh austerity programme imposed on the country by its creditors will be continued. The left-liberal online newspaper To Vima criticises the fact that the parties are either touting the austerity policy as a panacea or pushing for it to be renounced: » more
Among other things the early parliamentary elections in Greece on Sunday will decide whether or not the harsh austerity programme imposed on the country by its creditors will be continued. The left-liberal online newspaper To Vima criticises the fact that the parties are either touting the austerity policy as a panacea or pushing for it to be renounced: "The parties of these two camps are lying. They claim to have the solution to something that unfortunately no longer has a solution. The only thing they don't talk about is the reality. ... Namely that Greece is bankrupt and that it has just two options: either it goes along with the austerity dictates of its creditors, which would mean that Greece soon has salaries, pensions and a social welfare system on par with those in Romania or Bulgaria, and that unemployment will be even higher than in Spain. The other option is not to continue with this austerity. But no one knows where this path would lead. … It's highly likely that the country would suffer an even greater shock if it steered this course."
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Naftemporiki - Greece | Wednesday, 18. April 2012
According to recent surveys, the Greek parliamentary elections on May 6 will bring major changes in the political scene because smaller parties will win more votes. But Greece's creditors want the big parties to continue in government, the conservative business paper Naftemporiki points out: » more
According to recent surveys, the Greek parliamentary elections on May 6 will bring major changes in the political scene because smaller parties will win more votes. But Greece's creditors want the big parties to continue in government, the conservative business paper Naftemporiki points out: "May 6 will certainly be a fateful day. Everyone is asking whether the political landscape will change because an eight- or nine-party parliament is elected or whether we will realise that we still haven't got rid of our bad habit [of voting for one of the two major parties]. … It may be that the Europeans and the International Monetary Fund want drastic reforms in Greece to get it out of the crisis. ... But they don't want any changes to the existing political system, which in their view should be maintained. Naturally this is not because they want us to stay in the Eurozone but because our creditors don't want to lose their money."
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Süddeutsche Zeitung - Germany | Thursday, 12. April 2012
Early parliamentary elections will be held on May 6 in Greece, Prime Minister Lucas Papademos announced on Wednesday. These elections are really the last thing the country needs but precisely because of the crisis they are vital, writes the left-liberal daily Süddeutsche Zeitung: » more
Early parliamentary elections will be held on May 6 in Greece, Prime Minister Lucas Papademos announced on Wednesday. These elections are really the last thing the country needs but precisely because of the crisis they are vital, writes the left-liberal daily Süddeutsche Zeitung: "The last time the Greeks went to the ballot, in autumn 2009, they gave their votes to a party whose slogan was: 'Here's the money'. ... It's good that they are now being allowed to vote. But it would be better if they had a real alternative and not just the choice between a rock and a hard place. The Greeks won't give their votes to the party they trust most but to the one they despise least. ... If [the conservative] ND and the [socialist] Pasok end up in front then it will be because they seem to be the only ones who can guarantee that Greece remains in the Eurozone. ... Many Greeks can only hope that the election produces another coalition of the two parties and - more importantly - forces them to finally come to their senses."
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To Ethnos - Greece | Sunday, 1. April 2012
According to opinion polls the fascist Chrysi Avgi party could obtain almost five percent of the vote in the Greek parliamentary elections anticipated for May, enabling it to make the leap into parliament. The left-liberal daily To Ethnos sounds the alarm in its Sunday edition: » more
According to opinion polls the fascist Chrysi Avgi party could obtain almost five percent of the vote in the Greek parliamentary elections anticipated for May, enabling it to make the leap into parliament. The left-liberal daily To Ethnos sounds the alarm in its Sunday edition: "The Hitler nostalgics threaten to contaminate the parliament with their presence and lay a mine in the exhausted political system. ... This is the first time that this could happen in Greece's political history, and unfortunately the popularity of Chrysi Avgi's hatred and violence tirades is explicable. ... The current political, economic and social situation plays into the hands of those who stir up xenophobia. They profit from the economic crisis. ... Now the question is whether there are enough gullible and desperate people who believe that a gang of ruthless and fanatical admirers of the biggest human rights abuser in the history of mankind can provide answers to Greece's problems in 2012."
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