Euro still not in the clear

Financial markets breathed a sigh of relief with the announcement of details of the rescue plan for Greece, according to which Athens will be eligible for loans at particularly cheap interest rates. But other countries still pose a risk to the euro, writes the daily Berlingske Tidende: "Germany as well as a number of other countries are right to pose difficult questions to the Greek government. The German chancellor opposed granting loans to Greece at favourable interest rates, saying the customary rates should be respected. Nevertheless the plan seems to have paid off. The euro is rising slowly but surely against the dollar, and the markets have largely calmed down. But for how long? All it takes is one or two negative reports from countries whose situation is just as bad as Greece's. Spain, Portugal and Ireland are all high-risk countries. Bad news from there could plunge the euro into a crisis once more."

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