Criticism is growing over the second rescue package for Greece passed on Tuesday. IMF head Christine Lagarde wants to see reforms before she allocates more money, and several national parliaments have yet to agree to the plan. Immediate insolvency would spare Greece and the Eurozone much suffering, some commentators write, while for others the greatest danger lies in the total control being exerted over Athens.
With articles from the following publications:
NRC Handelsblad - Netherlands, Rzeczpospolita - Poland, euinside - Bulgaria, Lidové noviny - Czech Republic, Neue Zürcher Zeitung - Switzerland
NRC Handelsblad - Netherlands
With the terms it has stipulated for the bailout package Europe has de facto colonised Greece, the liberal daily NRC Handelsblad warns. "The Treaty of Versailles of 1919, the peace treaty with which the allies foisted unbearable reparations on Germany, the opposite of peace was achieved. So it would make better sense if the countries now regarded as the colonial masters were to adopt a more unobtrusive stance rather than rubbing salt into the wounds. The [Dutch] finance minister Jan Kees de Jager has failed to understand this. Even before the negotiations on the 130 billion euro bailout he called for the 'permanent presence of the troika in Athens'. This was uncalled for. Greece is already under supervision. … Moreover he said would be 'unwise' for elections to take place in April. … It is not just a matter of bad style to kick a man when he's down. It's also in one's own interest to depict the humiliation as a compromise. Adopting an excessively harsh stance only breeds a desire for revenge." (22/02/2012)
In return for the billions in aid money Greece must fulfil strict requirements and relinquish control over the economy to foreign auditors. The country has renounced its statehood unnecessarily, the conservative daily Rzeczpospolita admonishes: "This means surrendering a key part of its national sovereignty - and doing so beyond the scope of the European treaties. ... Better results would certainly be obtained with a structured reorganisation of the country. But neither the Greek politicians nor the people had the courage for such a step. Instead of getting down to work they opted either for partial slavery or insurgency. The Union has forced Greece to agree to permanent external control of its budget. ... You can say what you want about this requirement but one thing is certain: no sovereign country would accept such a situation, no matter how committed it is to the construction of a common Europe." (22/02/2012)
At best, the 130-billion-euro EU bailout package will put insolvent Greece in an induced coma, the online portal euinside writes: "Imagine a patient who needs a lifesaving surgery. Everyone is aware that even if the operation is successful the best the patient can hope for is to remain on mechanical ventilation. However, still alive. Something like that has happened to Greece in the last 24 hours. After a 14-hour 'operation' the machine is turned on and the patient is breathing, though entirely dependent on another's will. The optimistic scenario is that the patient will start breathing on his own in two years and in eight years he will be able to walk. Nobody was ready to discuss the pessimistic scenario after the exhausting night. EU Economic and Monetary Affairs Commissioner Olli Rehn looked tired but relieved, and made the best description of the situation: "In the past two years and again this night I have learned that marathon is indeed a Greek word.'" (21/02/2012)
The second so-called bailout package for Athens can't be taken seriously, the conservative daily Lidové noviny complains: "The official goal of the bailout is to revive the economy, increase competitiveness and lower public debt. What we have now is the opposite. Who is going to invest in a country that is collapsing? … Fears are justified that Greece won't be able to keep its promises. The two traditional major parties that have been taking turns in power for generations and were the only ones willing to sign the bailout deal can garner no more than a third of the votes. It's almost as if the package had been deliberately designed to put Athens in a hopeless situation that leaves it no alternative but to say goodbye to the Eurozone." (22/02/2012)
Going bankrupt now rather than later would have been better for both Greece and the Eurozone, writes the liberal-conservative Neue Zürcher Zeitung, considering it likely "that the country will become insolvent and have to leave the Eurozone anyway in the not too distant future, but will only suffer unnecessarily in the meantime. Or that the Greek bailout will transform the Eurozone into a transfer union the survival of which will have to be guaranteed by increasingly large support payments without the disadvantaged regions finding a way out of their plight. Neither prospect is edifying. A solution which released Athens into insolvency, gave it the chance of genuine debt restructuring negotiations and led at least to the suspension of Greece's Eurozone membership would have been braver and more promising. But as things stand now the hope of Greece recovering is so tiny that it would be tantamount to a miracle if it did." (22/02/2012)
The euro finance ministers resolved early on Tuesday morning to grant Greece new loans amounting to 130 billion euros. In addition, private creditors have signalled their willingness to waive more than the planned 100 billion euros in debts. Although even this hefty bailout package won't solve Greece's problems, a collapse of the Eurozone would be more costly, commentators write.
With articles from the following publications:
Cinco Días - Spain, Le Monde - France, Der Standard - Austria, Naftemporiki - Greece
Cinco Días - Spain
The new rescue package by no means solves all Greece's problems, writes the business paper Cinco Días: "Although the Eurozone's backing is good news - all the more so after the long succession of fallouts and reconciliations on the part of Europe's leaders in recent months regarding the agreement - the Greek problem continues to be far from resolved. In view of Athens' disastrous political and economic management ever since its ordeal began the idea is beginning to gain hold that Greece doesn't just need an economic solution but profound political renewal. But unlike the economic problem the latter cannot be resolved by means of external supervision or cash injections. It requires a process of maturation, and in some cases the creation of new structures and institutions the establishment of which will take some time." (21/02/2012)
The fact that the Euro Group is doing so much to rescue the economic flyweight Greece shows just how fragile the common currency is, writes the left-liberal daily Le Monde: "Greece's plight shows that the eurozone still seeks a workable mixture of flexibility, discipline and solidarity. The eurozone is in a form of limbo: it is neither so deeply integrated that break-up is inconceivable, nor so lightly integrated that break-up is tolerable. Indeed, the most powerful guarantee of its survival is the costs of breaking it up. Maybe that will prove sufficient. Yet if the eurozone is to be more than a grim marriage sustained by the frightening costs of dividing up assets and liabilities, it has to be built on something vastly more positive than that. Given the economic divergences and political frictions revealed so starkly by this crisis, is that now possible? (20/02/2012)
The deal in Brussels brings down not only Greece's interest payments but also those of struggling Portugal, the left-liberal daily Der Standard writes, but points out that this also means Germany will earn a little less from the crisis: "The creditors for the euro bailout measures will give the Greeks cheaper loans after all, and accept lower yields. … [Portugal's prime minister] Passos Coelho will also benefit indirectly from this. The interest paid by Portugal, which is also receiving billions in loans, will soon sink to a similar level. And this is only fair, because up to now states with top ratings like Germany have earned a pretty sum with the 'bailout business': on the one hand because of the high interest they were able to charge for loans, and on the other because of the cheaper market rates at which they themselves could take out loans as a result of the crisis in southern Europe. According to a study by economics researchers based in Cologne, Germany has saved 45 billion euros without having to do anything for it, simply thanks to the market. This demonstrates how inextricably and paradoxically intertwined everything is in the Eurozone." (21/02/2012)
Athens' insolvency has been averted for now, but the Greeks still face many uncertainties, the conservative business paper Naftemporiki stresses: "The decision of the Euro Group ends a long period of unease and uncertainty regarding our economic situation and our relationship with our EU partners. But it doesn't guarantee that better times will ensue in this chapter of our history titled 'the debt crisis and other crises'. To put it simple: no matter how much we yearn for a glimmer of hope we shouldn't draw rash conclusions and seek the light where there is none. The only thing we can count on are the next elections. This prospect will no doubt help us feel better." (21/02/2012)
The civil rights activist Joachim Gauck will succeed Christian Wulff, who resigned on Friday, as German president. This was the agreement reached on Sunday evening by the ruling parties and the opposition Social Democrats and Greens. The appointment of Gauck, who is regarded as a moral authority, is a smart move on the part of the chancellor, even if he won't be an easy president to deal with, commentators write.
With articles from the following publications:
Tages-Anzeiger - Switzerland, NRC Handelsblad - Netherlands, Kurier - Austria, Süddeutsche Zeitung - Germany
Tages-Anzeiger - Switzerland
The designated German President Joachim Gauck is the exact opposite of his morally compromised predecessor Christian Wulff, the liberal Tages-Anzeiger writes praising his nomination: "He is the natural choice after Wulff's spectacular failure. He is a moral authority, incorruptible, true to his principles and independent. He never bowed to the GDR regime - and even after the fall of the Berlin Wall he kept his independence. Instead of launching into a career in politics (Gauck does not belong to any party even today) he took charge of the Stasi files authority. Joachim Gauck comes across as the antithesis to Wulff, the professional politician and careerist, the bargain-hunter who let friends pay for hotel stays and provide him with a mortgage and smart car on favourable terms - but otherwise had little to offer. With Gauck there is a real chance that the presidency, which has been so tarnished by the events of the past weeks, will regain its old lustre and a new depth and significance." (20/02/2012)
German Chancellor Angela Merkel gave up her resistance to Joachim Gauck's presidential candidacy on Sunday. After the debacle with her last choice for president, Christian Wulff, this is a wise decision, the liberal daily NRC Handelsblad concludes: "Merkel had to get rid of the political ballast that Christian Wulff had become for her and the Christian Democrats. … Germany is now free of a man who had lost any moral authority he ever had. It needed a president who exudes this authority. … Merkel did everything in her power to push through Wulff as president in 2010, even though the opposition Social Democrats and the Greens had proposed Joachim Gauck, an Eastern German clergyman who is not affiliated with any party, as a very good alternative back then. But Merkel rejected his candidacy for party-political reasons. … Now the Chancellor has shown her willingness to find a 'joint candidate' together with the Social Democrats and the Greens. In Germany everything, even the presidency, is politicised, but this time Merkel has kept her word." (20/02/2012)
German Chancellor Angela Merkel long rejected the idea of Joachim Gauck as German president, but the generosity and pragmatism revealed by her decision on Sunday evening show her in a favourable light, writes the liberal daily Kurier: "Her instinct for the mood among the people is often better than her instinct for what her own supporter base wants, where top functionaries from her core Catholic strongholds in the south didn't want another Eastern German Protestant heading the state. Even if his message of optimism, love of liberty and self-confident patriotism was more suited to the Christian Democrats that to the [opposition] Social Democrats. The opposition will no doubt derive some satisfaction from this late victory. But it doesn't seem to have done Merkel much harm: generosity suits her and does not go unrewarded in politics. Cool pragmatism has always been her trademark anyway. And in future it will be up to Gauck to inspire political emotion." (20/02/2012)
Joachim Gauck, a human rights activist in the former East Germany, won't be an easy president, writes the left-liberal daily Süddeutsche Zeitung: "Joachim Gauck is a clever and authoritative man. His strength is his preacher-like pathos, even if it is somewhat limited in scope. He is not an easy candidate, he thinks emotionally, talks emotionally, and now also acts emotionally. It will be an unpredictable president, and he's sure to ruffle some feathers. Not so very long ago he showed understanding for the xenophobic theses of Thilo Sarrazin, calling the controversial author 'courageous'. ... Other German presidents were elected and then gained in popularity. With Gauck it's the other way round: he gained hugely in popularity as a candidate against Wulff - and has now been nominated for that reason. But it would almost be a miracle if he remains so popular." (20/02/2012)
In a meeting with his generals, Greek President Karolos Papoulias on Wednesday attacked the German Finance Minister Wolfgang Schäuble as well as the Dutch and the Finns, after they warned that Athens must not turn into a bottomless pit. But even if some Europeans interfere too much in Greek affairs, such outbursts should not be allowed to fuel people's hatred, commentators write.
With articles from the following publications:
Lidové noviny - Czech Republic, Kathimerini - Greece, ABC - Spain
Lidové noviny - Czech Republic
Germany and Greece are losing their tempers in the dispute over new financial aid for the government in Athens and should exercise a little more restraint, the conservative daily Lidové noviny admonishes: "The German Minister of Finance, Wolfgang Schäuble, openly suggested in a radio interview that the Greek elections scheduled for April should be postponed and a technocratic government without politicians be installed in Athens, adding that no more money could be poured into a bottomless pit. This caused Greek President Karolos Papoulias to lose his temper. ... Patience is running out both in Berlin and Athens. … What next? Will the presidential elections in France be cancelled owing to the possibility that Nicolas Sarkozy could be replaced by the Socialist Hollande, who doesn't like Germany-style budget supervision?" (17/02/2012)
Germany is not only home to politicians like Schäuble und Merkel, who are being cast as "the enemy" in Greece at present, but also to Goethe, Marx, Brecht and Thomas Mann, columnist Xenia Kounalaki reminds her compatriots in the conservative daily Kathimerini, warning them not to overgeneralise in their anger at the Germans: "Those who are familiar with German culture cannot understand this rage. To see the remarks of Finance Minister Wolfgang Schäuble or the annoying articles of the tabloid Bild as representing the attitude of the entire German people or the entire German press is just as unfair and overgeneralising as the stereotype of the lazy Greek who sits around in cafés all day and lives beyond his means. … The way some people are trying to reduce the tradition of an entire country to such unfortunate comparisons as: today's Germany - the fourth Reich, Goebbels - Scäuble, Hitler - Merkel is simply absurd." (16/02/2012)
The fact that even a friend of Germany like President Karolos Papoulias has attacked the German Minister of Finance worries the conservative daily ABC: "Of course it is also true that while Germany's popular press has committed barbarities like recommending that Greece 'sell its islands' or 'auction off the acropolis', the German politicians have always insisted on respect and circumspection. Meanwhile the Greek politicians have competed with the worst of the press in an orgy of anti-German hate tirades. The images of burning German flags or Merkel dressed in Nazi uniform certainly won't help to promote German solidarity with Greece. Primitive hatred is gaining the upper hand against the European friendship which few in Greece embody as President Papoulias does. The Union was forged after two major wars precisely to quash hatred. Let us not allow hatred to be exploited once more to pit us against each other and divert attention from our responsibilities and failures." (17/02/2012)
French President Nicolas Sarkozy on Wednesday officially announced his candidacy for the presidential elections slated for April 22. In opinion polls he trails behind his Socialist challenger François Hollande. Sarkozy's departure would represent a loss on the international stage, some commentators write. Others see him as a symbol of the decline of France, whose policies will be dictated by Germany even after the elections.
With articles from the following publications:
The Times - United Kingdom, Lidové noviny - Czech Republic, El País - Spain, La Tribune - France
The Times - United Kingdom
Nicolas Sarkozy stands little chance of being re-elected, nevertheless he has done more than many are willing to admit, writes the conservative daily The Times: "Compared with his record outside Europe, Mr Sarkozy's leadership in the Eurozone crisis has been less impressive. But he is credited with pushing Angela Merkel, the German chancellor, farther and faster towards a solution and his calls for stronger intervention by the European Central Bank were heeded. At the same time, he has been prepared to make politically difficult compromises to keep the process edging forwards. Mr Sarkozy has been a strong advocate of the market liberalisation that the French economy desperately needs, although his achievements have not always quite lived up to the rhetoric. ... For all his flaws then, Mr Sarkozy would be a loss from the world stage. But if he is going to avoid that fate, he will have to pull off one last great campaign." (16/02/2012)
Nicolas Sarkozy got off to a good start as French president but has seen his profile and public esteem diminish considerably in the course of the crisis, writes the conservative daily Lidové noviny: "Sarkozy quickly fulfilled his promises. He prevented the unions from paralysing the country, limited the privileges of the civil servants and railway employees and led France back into Nato. But in the financial crisis the courageous reform president became a realpolitker. ... As the French economy lost strength he handed over leadership to the German chancellor. He gave his approval for the fiscal compact after calling it an unacceptable encroachment on French sovereignty just days before. Today, for the majority of the population he is a president of decline. Symbolic of this decline are the loss of France's top credit rating and the loss of clout to Germany." (16/02/2012)
In the campaign for the French presidency both candidates should be clear about the fact that it's Germany that calls the shots in Europe, the left-liberal daily El País observes: "The economic and financial crisis affecting part of Europe is changing the rules of domestic politics and forcing even Paris to recognise that notwithstanding France's fondness of casting itself in the most flattering role, the one who calls the tune is Ms. Merkel. And the candidates should bear this in mind. … Nicolas Sarkozy and François Hollande share the same obsession: Germany. But for now Hollande is presenting himself as the stronger option vis-à-vis the Chancellor. Since he has no miracle solution to the Eurozone crisis at hand, the Socialist candidate is vowing left, right and centre that with him at the helm the situation would change; that he will compel Ms. Merkel to renegotiate the fiscal compact she has just foisted on her partners." (14/02/2012)
According to recent polls, the incumbent Nicolas Sarkozy is clearly trailing behind his Socialist challenger François Hollande, who as things stand now can expect to win 57 percent of the vote in the second round of the French presidential elections. Tough times lie ahead for President Sarkozy, writes the online business paper La Tribune: "The president himself knows that his track record won't particularly help him make up for his considerable lag behind his Socialist rival in the first and especially in the second round of the elections. ... Is the president and candidate of 2012 capable of recovering the esteem of a country deeply worried about rising unemployment and many other risks? That is the big question in the days ahead. Nicolas Sarkozy has two months to 'turn the tables' and transform from a hyperpresident into a hypercandidate. ... A candidate yes, but to do what? What he was unable or unwilling to do while he was in power?" (16/02/2012)
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