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Greece on the verge of bankruptcy


As Athens and its creditors have been unable to reach an agreement on reforms, the bailout programme expires. The Greeks are to vote on the austerity demands in a referendum. What are the consequences of the looming state bankruptcy?



Main focus of Friday, 3. July 2015

IMF: Athens needs a third bailout

The IMF estimates in its latest analysis that Athens will need around 52 billion euros in new loans until 2018, as well as debt relief. ... » more


Proto Thema - Greece | Friday, 3. July 2015

Angela Merkel coordinating a putsch

The European Commission and European politicians have warned the Greeks in recent days not to vote against austerity in Sunday's referendum. This provokes harsh criticism from the liberal anti-government weekly Proto Thema: » more


De Morgen - Belgium | Friday, 3. July 2015

No improvement without debt relief

The debt relief taboo must finally be broken, the centre-left daily De Morgen demands: » more


El Huffington Post - Spain | Friday, 3. July 2015

There is life after default

Greece is in a similarly difficult situation to the one Argentina faced in 2001, economists Joseph Stiglitz and Martin Guzman point out in the centre-left web paper El Huffington Post: » more


Delo - Slovenia | Friday, 3. July 2015

Slovenians shouldn't pay for German banks

A Greek state bankruptcy could cost Slovenian taxpayers up to 1.6 billion euros, the centre-left daily Delo writes angrily and calls for the Western European banks to pay for their own bad decisions: » more


The Economist - United Kingdom | Thursday, 2. July 2015

Eurobonds instead of bailout programmes

The euro will only remain viable after the Greek crisis if member states share the burdens of risk and responsibility, the liberal business weekly The Economist warns: » more


Main focus of Thursday, 2. July 2015

Euro Group sends Athens packing

The finance ministers of the Eurozone have ruled out further bailout negotiations with Greece before the referendum. This decision came after Athens had accepted almost all ... » more


24 Chasa - Bulgaria | Wednesday, 1. July 2015

Tsipras evading responsibility

The Tsipras government is trying to evade responsibility with the referendum, the daily 24 Chasa complains: » more


Corriere della Sera - Italy | Thursday, 2. July 2015

Obama would solve the crisis differently

Washington urged the EU on Monday to continue talks with Athens. Once again the widening gap between Europe and the US is evident, the liberal-conservative daily Corriere della Sera writes: » more


Sme - Slovakia | Thursday, 2. July 2015

Athens' debts not so huge

Even if the Greeks, with Prime Minister Alexis Tsipras at the fore, have driven practically every European crazy in the last few months it would be wrong to abandon them now, warns the liberal daily Sme: » more


Le Quotidien - Luxembourg | Wednesday, 1. July 2015

Greeks can end Europe's lost wanderings

Brussels could be forced to make a necessary change of course if the Greeks reject the creditors' offer in Sunday's referendum, the centre-left daily Le Quotidien comments: » more


Le Figaro - France | Thursday, 2. July 2015

Debt conflict reveals German-French rift

In refusing further negotiations before Sunday's referendum the Euro Group has aligned itself with Germany, while France's President François Hollande has argued in favour of a quick compromise. The rift between Berlin and Paris is growing, the conservative daily Le Figaro comments: » more



Die Welt - Germany | Tuesday, 30. June 2015

Europe must stop doting on its problem children

Europe should part ways with its problem children and follow a self-assured path to economic excellence, the conservative daily Die Welt urges: » more


De Standaard - Belgium | Wednesday, 1. July 2015

The Eurozone's incredible mistake

It was an enormous mistake of the Eurozone to manoeuvre Greece into a situation in which it had to default on an IMF payment, the liberal daily De Standaard laments: » more


The Irish Times - Ireland | Tuesday, 30. June 2015

Irish success story just a myth

In the austerity policy debate Ireland is often described as a success story among the EU crisis states. But that's not quite the reality of the situation, the centre-left daily The Irish Times argues: » more


Blog Pitsirikos - Greece | Tuesday, 30. June 2015

Greeks must vote no

Greece's opposition leader and former prime minister Antonis Samaras has described Sunday's referendum as a vote on whether or not to remain in the EU - and not on the creditors' austerity demands. But only by voting no can the Greeks stay in the European Union, blogger Pitsirikos writes: » more


La Repubblica - Italy | Wednesday, 1. July 2015

Athens can break the vicious circle

The rejection of further austerity demands is the only sensible way out of the Greek crisis, economist Mariana Mazzucato writes in the centre-left daily La Repubblica: » more


Le Figaro - France | Tuesday, 30. June 2015

Paris no better at finances than Athens

According to a report put out by the statistics office Insee on Tuesday, France's national debt rose by 51.6 billion euros in the first quarter of 2015 to 97.5 percent of GDP. The fact that the Socialist government under President François Hollande is planning further government spending is preposterous, the conservative daily Le Figaro complains: » more


Lidové noviny - Czech Republic | Tuesday, 30. June 2015

Europe won't collapse

Although the government in Athens is completely unpredictable its behaviour will not pose a threat to the euro and the EU, the conservative daily Lidové noviny comments: » more


Neue Zürcher Zeitung - Switzerland | Tuesday, 30. June 2015

Monetary union obsolete

Europe must scrap the monetary union entirely, write the Basel-based economists Lukas Hohl and Rolf Weder in the liberal-conservative Neue Zürcher Zeitung, describing this as the only logical consequence of the looming Grexit: » more


The Wall Street Journal - U.S. | Monday, 29. June 2015

Global perspectives: Return to drachma not an option

The creditors must not give in to Athens now, the liberal daily Wall Street Journal urges, reminding the Tsipras government of the consequences of leaving the Eurozone: » more


The Times - United Kingdom | Monday, 29. June 2015

Supranational institutions losing importance

The debt conflict with Greece and the refugee crisis show that the significance of European supranational institutions is dwindling, the conservative daily The Times comments: » more


Efimerida ton Syntakton - Greece | Monday, 29. June 2015

Brussels and Athens should end power games

A Grexit will have repercussions for all Europe, warns the centre-left daily Efimerida ton Syntakton, appealing to Athens and the EU to stop their power games: » more


Ziarul Financiar - Romania | Tuesday, 30. June 2015

Grexit would be a signal to Romania

20 years ago many in Romania saw Greece as a model for development. But if Greece exits the Eurozone it would come as a bitter lesson for Romania, the business paper Ziarul Financiar comments: » more


Keskisuomalainen - Finland | Tuesday, 30. June 2015

Grexit inevitable

Leaving the monetary union could help Greece in the long term even if the Greeks suffer inititally, the liberal daily Keskisuomalainen writes: » more


Deutschlandfunk - Germany | Sunday, 28. June 2015

ECB losing all credibility

By extending the emergency loans for Greece even though the Eurogroup's bailout programme expires on Tuesday, the ECB has said goodbye to its role as protector of monetary stability, the public broadcaster Deutschlandfunk writes: » more


Kurier - Austria | Monday, 29. June 2015

EU squeezing Greece to the bitter end

Greece's looming state bankruptcy is an admission of failure on the part of Europe, the liberal daily Kurier writes: » more


Die Welt - Germany | Monday, 29. June 2015

Grexit will restore Athens' sovereignty

After the announcement of a referendum in Greece, the conservative daily Die Welt sees a Grexit as likely and helpful: » more


Naftemporiki - Greece | Monday, 29. June 2015

Unclear referendum just pseudo democracy

Alexis Tsipras has described the decision of the parliament in Athens to hold a referendum next Sunday on the troika's austerity demands as an important step for his country's democracy. The conservative business paper Naftemporiki has its doubts: » more


Financial Times - United Kingdom | Sunday, 28. June 2015

Finance ministers made tactical error

The finance ministers of the Eurozone have played right into the hands of Greek Prime Minister Alexis Tsipras by insisting that the bailout programme expire this Tuesday, columnist Wolfgang Münchau writes in the liberal Financial Times newspaper: » more


La Repubblica - Italy | Monday, 29. June 2015

Creditors drove Tsipras to hold referendum

Greece's creditors have left Alexis Tsipras with no other option but to let the people decide, US economist Paul Krugman writes in the centre-left daily La Repubblica: » more


 

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Further articles on the subject » Euro crisis, » National debt, » EU Policy, » Euro, » Fiscal Policy, » Currency, » Europe, » Greece
More from the press review on the subject » Euro crisis, » National debt, » EU Policy, » Euro, » Fiscal Policy, » Currency, » Europe, » Greece


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