Greek Voters Punish Ruling Coalition Over Austerity
FRANCE 24: Voters delivered a blow to Greece's traditional ruling parties, the conservative New Democracy and the Pasok socialists, on Sunday as voters moved to anti-austerity parties on the far right and left. Nobody won enough votes to form a government.

AP: Furious Greeks punished the two parties that have dominated politics for decades in the crisis-battered country Sunday, leaving its multibillion dollar international bailout - and even its future in the euro currency - hanging in the balance.

With more than 83 percent of the vote counted, Greece appeared to be heading toward political stalemate. Nobody won enough votes to form a government, and the two parties that backed the bailout - the conservative New Democracy and socialist PASOK - conceded they need to win over adversaries to form a viable coalition.

“I understand the rage of the people, but our party will not leave Greece ungoverned,” said New Democracy leader Antonis Samaras.

New Democracy was leading with nearly 20 percent of the vote, which would give it 110 seats in the 300-member parliament. PASOK, which has spent 21 years in government since 1981 and stormed to victory with more than 43 percent in 2009, saw its support slashed to about 13.5 percent. It will have just 41 seats, compared to 160 in the last election.

The two parties saw their support plummet to the lowest level since 1974, when Greece emerged from a seven-year dictatorship. The outcome showed widespread public anger at the harsh austerity measures imposed over the past two years in return for rescue loans from other European Union countries and the International Monetary Fund. Without the funds, Greece faced a disastrous default that could have dragged down other financially troubled European countries and seen it leave the euro.

Voters who deserted the two mainstays of Greek politics in droves headed to a cluster of smaller parties on both the left and right, including the extremist Golden Dawn, which rejects the neo-Nazi label and insists it is nationalist patriotic. The movement has been blamed for violent attacks on immigrants and ran on an anti-immigrant platform, vowing to “clean up” Greece and calling for land mines to be planted along the country’s borders. The party looked set to win about 7 percent of the vote, giving it 21 deputies in parliament - a stunning rise for a group that earned just 0.29 percent of the vote in 2009. (+ video) » | News wires | Monday, May 07, 2012

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24 Hours to Save the Euro: Germany Prepares for a 'Temporary' Greek Exit as Euro Project on the Brink of Collapse

THE TELEGRAPH: Berlin readies humanitarian aid for Greece proposing a five-year expulsion from the euro, after Athens is accused of destroying the trust of its partners

The German government has begun preparations for Greece to be ejected from the eurozone, as the European Union faces 24 hours to rescue the single currency project from the brink of collapse.

Nine hours of acrimonious talks on Saturday night, saw finance ministers fail break the deadlock with Greece over a new bail-out package, accusing Athens of destroying their trust. It leaves the future of the eurozone in tatters only 15 years after its inception.

In a weekend billed as Europe’s last chance to save the monetary union, ministers will now reconvene on Saturday [?] morning ahead of an EU leaders' summit later in the evening, to thrash out an agreement or decide to eject Greece from the eurozone.

Should no deal be forthcoming, the German government has made preparations to negotiate a temporary five-year euro exit, providing Greece with humanitarian aid while it makes the transition.

An incendiary plan drafted by Berlin's finance ministry, with the backing of Angela Merkel, laid out two stark options for Greece: either the government submits to drastic measures such as placing €50bn of its assets in a trust fund to pay off its debts, and have Brussels take over its public administration, or agree to a "time-out" solution where it would be expelled from the eurozone. » | Mehreen Khan | Saturday, July 11, 2015

Political Risk Looms for Merkel: Greece Aid Promise Spurs Grumbling Ahead of Key State Vote for Ruling Coalition
Jürgen Rüttgers, conservative premier of North Rhine-Westphalia, campaigns ahead of a vote that will test Germany's ruling center-right alliance. Photograph: The Wall Street Journal
THE WALL STREET JOURNAL: BERLIN—Europe's ever-louder promises of help for Greece may have calmed financial markets for now, but they pose a problem for German Chancellor Angela Merkel, who faces growing criticism at home as her resistance to a Greek bailout softens.

Ms. Merkel's center-right coalition will be tested in crucial regional elections on May 9 that could wipe out its thin majority in Germany's upper house of parliament, making it harder for the government to pass its major economic policies into law.

Loaning taxpayer money to Greece at a time when German authorities are strapped for cash to maintain schools and roads at home could potentially add to broader voter dissatisfaction with the performance of the ruling coalition, political analysts say.

So far the election campaign in North Rhine-Westphalia, Germany's most populous state, has centered on domestic issues including jobs, education and the appeal and flaws of local candidates. Opinion pollsters say Greece isn't playing a major role. But the center-right, which is lagging in polls, can't afford extra controversy, analysts say.

"If Greece is bailed out shortly before the election, it could lead to an awkward debate for Merkel, with voters questioning why there's money for Greece but not for them," says Gero Neugebauer, a political scientist at Berlin's Free University.

Ms. Merkel's conservative Christian Democrats and their junior coalition partners, the pro-business Free Democrats, who hold a governing majority in North Rhine-Westphalia, are lagging in opinion polls, which show them with about 45% of the vote. >>> Markus Walker | Wednesday, April 14, 2010

Peter Oborne’s Viewpoint: The Callous Cruelty of the EU Is Destroying Greece, a Once-proud Country
THE DAILY TELEGRAPH: Britain should play its part to end this Greek tragedy by standing up for the underdog.

For all of my adult life, support for the European Union has been seen as the mark of a civilised, reasonable and above all compassionate politician. It has guaranteed him or her access to leader columns, TV studios, lavish expense accounts and overseas trips.

The reason for this special treatment is that the British establishment has tended to view the EU as perhaps a little incompetent and corrupt, but certainly benign and generally a force for good in a troubled world. This attitude is becoming harder and harder to sustain, as this partnership of nations is suddenly starting to look very nasty indeed: a brutal oppressor that is scornful of democracy, national identity and the livelihoods of ordinary people.

The turning point may have come this week with the latest intervention by Brussels: bureaucrats are threatening to bankrupt an entire country unless opposition parties promise to support the EU-backed austerity plan.

Let’s put the Greek problem in its proper perspective. Britain’s Great Depression in the Thirties has become part of our national myth. It was the era of soup kitchens, mass unemployment and the Jarrow March, immortalised in George Orwell’s wonderful novels and still remembered in Labour Party rhetoric.

Yet the fall in national output during the Depression – from peak to trough – was never more than 10 per cent. In Greece, gross domestic product is already down about 13 per cent since 2008, and according to experts is likely to fall a further 7 per cent by the end of this year. In other words, by this Christmas, Greece’s depression will have been twice as deep as the infamous economic catastrophe that struck Britain 80 years ago.

Yet all the evidence suggests that the European elite could not give a damn. Earlier this week Olli Rehn, the EU’s top economist, warned of “devastating consequences” if Greece defaults. The context of his comments suggests, however, that he was thinking just as much of the devastating consequences that would flow for the rest of Europe, rather than for the Greeks themselves.

Another official was quoted in the Financial Times as saying that Germany, Finland and the Netherlands are “losing patience” with Greece, with apparently not even a passing thought for the real victims of this increasingly horrific saga. Though the euro-elite seems not to care, life in Greece, the home of European civilisation, has become unbearable. Read on and comment » | Peter Oborne | Wednesday, February 15, 2012

Furious Greeks Press for Country to Default on Debt
THE OBSERVER: Violence on the streets as backlash grows over Greece's austerity package and €110bn bailout

A growing chorus of voices is urging the Greek government to restructure its debt as fears grow that a €110bn bailout has failed to rescue the country from the financial abyss and is forcing ordinary people into an era of futile austerity.

"It's better to have a restructuring now … since the situation is going nowhere," said Vasso Papandreou, whose views might be easier to discount were she not head of the Greek parliament's economic affairs committee.

Other members of prime minister George Papandreou's party have said that Greece is locked in a "vicious cycle", unable to dig itself out of crisis with policies that can only deepen recession.

International fears of a Greek default rose last week after the German finance minister, Wolfgang Schäuble, refused to rule it out and markets, sensing upheaval, sent Greek borrowing costs soaring.

The normally mild-mannered prime minister has vehemently rebuffed the prospect of Greece failing to meet its debt obligations, saying restructure would not only be catastrophic for the country – blocking its access to markets for years – but also for the eurozone's delicate economy. "Our problems will be addressed in depth not if we restructure our debt but if we restructure the country," he said, announcing the "road map" that would lead Greece out of crisis.

Amid speculation over the country's ability to avoid default, a wave of civil disobedience is causing many to wonder if Greece is becoming ungovernable. Read on and comment » | Helena Smith in Athens | Sunday, April 17, 2011

Agency Lowers Greek Debt Rating as Crisis Deepens
THE NEW YORK TIMES: FRANKFURT — Europe’s debt crisis deepened still further Tuesday after the ratings agency Standard & Poor’s downgraded Greek and Portuguese debt, investors sold off government bonds amid fears of a default, and workers in those Mediterranean nations took to the streets to protest austerity measures.

S.&P. downgraded Greek government debt to junk status, saying in a statement, “Greece’s economic and fiscal prospects lead us to conclude that the sovereign’s creditworthiness is no longer compatible with an investment-grade rating.”

The ratings agency also downgraded Portuguese government bonds, but they remain well above junk status.

“This thing is getting more and more urgent and tense,” said Robert Barrie, head of European economics at Credit Suisse in London. He predicted, though, that markets could settle down once Greece manages to refinance €8.5 billion, or $11.2 billion, in bonds that mature in May. “But it’s anything but calm at the moment,” he added.

As transport workers in both Portugal and Greece went on strike against austerity measures Tuesday, the risk premium on Greece’s bonds set new records even before S.&P. announced the downgrades.

A European Central Bank official warned all euro-zone countries to cut their soaring budget deficits and suggested that Greece may need to impose even harsher austerity measures to bring its debt under control. >>> Jack Ewing | Tuesday, April 27, 2010

Malaria Returns to Crisis-torn Greece

THE DAILY TELEGRAPH: Malaria has returned to Greece as financial cuts contribute to the re-emergence of a once extinct disease.

Global health bodies have issued warnings to travellers to the worst hit region in the south of the country, with fears that Athens could soon be affected.

Austerity budgets have resulted in drastic cutbacks in municipal spraying schemes to combat mosquito borne diseases.

In what is believed to be a first for Western Europe, Greece has experienced the first domestic cases of malaria since 1974.

Other mosquito-borne diseases that have slipped back into Greece include West Nile virus.

Statistics show that there were 70 instances of mosquito borne diseases in Greece in the first nine months of the year. » | Damien McElroy, Foreign Affairs Correspondent | Monday, October 22, 2012

'There Is a Sense of Revolt. I Feel It Too'
THE GUARDIAN: Nana Mouskouri is one of the biggest-selling singers of all time. Already adored in Greece, she promised this week to forgo her pension – the least she could do, she says, to help her financially ruined country

Nana Mouskouri: ‘Everywhere I see stories about my country going bankrupt. It’s painful for me. Nobody wants their country to be treated badly’. Photo: The Guardian
Athens in spring, and the tangerine trees are laden with vivid orange fruit. On the top floor of a quiet bookshop near the parliament a press conference is in progress: six people facing a room of journalists, arguing for the need to preserve the home of one of Greece's best-known poets. At their centre sits a woman striking both for her total stillness, and her huge dark glasses. She speaks evenly into a microphone, certain of her audience. When she finishes the meeting breaks up, into knots of people sipping wine and lighting cigarettes, jockeying and gossiping, as in any literary gathering the world over.

But when Nana Mouskouri makes her way to the back of the room it's to say, "Welcome. Welcome to troubled Athens." Because while here there may be blue skies and blossom, just round the corner stand armed police, riot shields at the ready. The traffic is just beginning to flow again, after yet another demonstration against the austerity measures just announced – the third round in as many months, and the harshest: €4.8bn (£4.3bn) in wage cuts, tax increases, a 30% cut in traditional holiday bonuses, a freeze on state pensions. The papers carry pictures of the demonstration yesterday – of pensioners, grey-haired and lined, being pressed back into line by young officers in full riot gear.

This week Mouskouri – who, even though she doesn't live in Greece, must be, by some measure, the country's most famous pensioner – announced that she is doing her bit by forgoing her pension altogether. "They say that one bird doesn't bring the springtime," she says now, laughing slightly, "but it's something." Her voice is quiet, only very lightly inflected – 50 years of fame, of equable, kindly interviews in one or another of her six languages, have produced an odd mixture of openness and distance, a generosity both rote and sincere – an effect exacerbated by the glasses she has hidden behind ever since she was a child. Speaking to her, you often find you are addressing her mouth, because although you can see her eyes through the tinted lenses, they seem to be doing their own thing, like a consciousness in a fish tank, swimming close, then arching away again.

Unlike the socialist government, which has strongly suggested that Greece's often very wealthy diaspora stump up some cash in its time of trouble, Mouskouri refuses to insist that other people should follow her example. But she rather hopes they will. "I believe in the pride, and the good will of everybody." Later she mentions that she's heard "that a deputy from the parliament has given her salary for a certain time. In Greece we call that philotimo. Philotimo is to have a certain pride – not arrogance, pride – and to place it well. To say I want to do something for my country. I believe there is some of it. I hope. At least nowadays everybody's informed about [the crisis]." >>> Aida Edemariam | Saturday, March 06, 2010

Greek Leftist Leader Alexis Tsipras: 'It's in Europe's Interest to Lift the Austerity Diktat'

SPIEGEL ONLINE INTERNATIONAL: Alexis Tsipras, head of the leftist Syriza party, wants an end to austerity in Greece. Ahead of Greek general elections in mid-June, he speaks with SPIEGEL about the dangers his country poses to the euro, the failure of economization measures thus far and why Chancellor Angela Merkel would be to blame if the Greek economy collapses.

Tsipras, the 37-year-old rising star in Greek politics, lays his Ray-Ban sunglasses on the table. It's Tuesday afternoon, and he looks exhausted. Indeed, he has a packed schedule: first Paris and then Berlin, where he met with Gregor Gysi and then with Jürgen Trittin and Sigmar Gabriel, senior officials in Germany's Left Party, Green Party and Social Democratic Party, respectively. Tsipras was the surprise victor when his Radical Left (Syriza) party took second place in May 6 general elections in Greece. Because leaders were unable to form a coalition government, a new election will be held on June 17. Most believe that Tsipras will attract even more votes in this second election.

Tsipras' tour through "Europe's two most important capital cities," as he put it, was primarily about cultivating his image. The civil engineer, already politically active in high school as a member of the Communist Youth of Greece, numbers among the strongest critics of the EU-International Monetary Fund (IMF) strategy for Greece, which calls for radical budget cuts and austerity in return for international aid. Should he win the June 17 election, Tsipras plans to ditch the terms of the bailout agreements struck with its creditors. On the campaign trail, one of his slogans has been that Greece is in danger of becoming a "German colony." But he toned things down in Berlin, saying: "We want to persuade, not blackmail." » | Interview conducted by Julia Amalia Heyer and Manfred Ertel | Translated from the German by Josh Ward | Monday, May 28, 2012

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Southern Europe Wildfires: A Climate Threat? | DW News

Aug 3, 2021 • 'We are no longer talking about climate change but about a climate threat' — that's the view of Greece's deputy civil protection minister as the southeast region of the Mediterranean is gripped by an extreme heatwave. Dozens of wildfires have broken out in Greece, Italy and Turkey — forcing residents and tourists to evacuate.

DW's correspondents in Turkey, Greece and Italy are on the ground following this story.
On Turkey's southern coast, blazes have killed at least eight people. DW's Julia Hahn reports from Manavgat, one of the areas that has been badly affected by the wildfires in Turkey.

In Greece, temperatures are expected to peak at 45 degrees Celsius (113 degrees Fahrenheit) in some parts of the country this week. The prime minister says Greece is experiencing its worst heatwave since 1987. Local authorities are advising households and businesses to conserve electricity especially during afternoon and evening peak times. DW correspondent Florian Schmitz reports from Thessaloniki.

Extreme weather has emergency services on high alert in Italy, too. Heavy rain and floods have hit the north of the country, while wildfires burn in the south. The Italian fire service say they have carried out over 700 operations in the past 24 hours on wildfires burning across the central and southern parts of the country. Jacopo Lentini reports from Palermo.

DW puts the extreme heatwave in southern Europe into perspective with Mojib Latif, a meteorologist at Germany’s Helmholtz Centre for Ocean Research, and author of best-selling climate change book 'Hot Times.'

Angela Merkel: Greece Should Never Have Been Allowed in the Euro

THE DAILY TELEGRAPH: Angela Merkel has said Greece should never have been allowed into the euro and put the blame on former chancellor Gerhard Schroeder.

The German leader’s outburst came as she attempted to prove to voters she maintains a tough stance on struggling euro countries, just a month before facing key elections.

“Greece shouldn’t have been allowed into the euro,” Ms Merkel told around 1,000 supporters of her Christian Democratic Union in Rendsburg on Tuesday.

“Chancellor Schroeder accepted Greece in [in 2001] and weakened the Stability Pact, and both decisions were fundamentally wrong, and one of the starting points for our current troubles.”

Ms Merkel reiterated her desire to see a strong single currency, but warned that this can only be achieved through reforms in struggling countries such as Greece.

“That [a unified euro area] is such a treasure, such a boon, that we can’t place it in doubt,” she told her supporters. “That’s why the euro is more than a currency. For this reason we’ve shown solidarity, but solidarity always linked to responsibility for reforms in those countries that experience our solidarity.” Read on and comment » | Andrew Trotman | Tuesday, August 27, 2013

Greece to Build 128-mile Anti-migrant Wall
THE DAILY TELEGRAPH: Greece has announced plans to build a controversial new wall along its 128 mile-long land border with Turkey to keep out illegal immigrants.

Christos Papoutsis, a Greek interior minister, insisted the wall was necessary after Brussels intervened last year to prevent an immigration crisis by sending in an elite taskforce of border guards to protect the frontier between Greece and Turkey, the EU’s most insecure boundary. He compared the planned barrier to the 650-mile fence along sections of the United-States-Mexico border.

“Co-operation with other EU states is going well. Now we plan to construct a fence to deal with illegal migration,” he said.

”The Greek public has reached its limit in taking in illegal immigrants. We are absolutely determined on this issue. Greece can’t take it anymore.”

Critics said the planned wall would be viewed as a symbol of widespread opposition, led by France, Germany and Greece, to Turkish EU membership and an emblem of a new Christian-Muslim divide between West and East. >>> Bruno Waterfield, Brussels | Monday, January 03, 2011

Grexit Beckons: Greece On Brink of Euro Exit as It Faces Economic Meltdown

THE TELEGRAPH: Embattled country could be forced out by Germany after politicians warn 'enough is enough' as it lurches towards default on €1.5bn debt

Greece is on the brink of economic meltdown after Germany appeared poised to push the country out of the eurozone.

With the embattled country set to default on a €1.5billion (£1.1billion) debt repayment, senior German politicians warned that “enough is enough”.

London’s FTSE 100 slipped 1.1 per cent to a three-month low on Monday as investors reacted to Greece’s failure to reach a deal with its creditors.

Global oil prices also fell after negotiations collapsed after just 45 minutes on Sunday, amid fears that Greece is now heading towards financial catastrophe.

As the crisis intensified, it emerged that George Osborne, the Chancellor, will later this week chair an emergency meeting as ministers seek to protect Britain’s economy from a potential Greek exit from the single currency - dubbed a Grexit.

Officials want to ensure that the Government has “contingency plans” in place to ensure that UK businesses are not damaged by a Greek withdrawal. » | Peter Dominiczak, Political Editor | Tuesday, June 16, 2015


THE TELEGRAPH: Enough is enough, Greece must leave the euro: The Greek debt crisis is now five years old, and still there is no workable settlement in sight. One apparent denouement follows another, lending Europe a sense of permanent crisis and conflict, not so dissimilar to an outright war, at least in terms of the entrenched positions adopted and the vitriol of the language. » | Telegraph View | Tuesday, June 16, 2015

DIE WELT: Merkel will "alles tun", um Griechenland zu halten » | Mittwoch, 17. Juni 2015

Greece’s Muslims Cite “Slaughter” Threat
GREEK REPORTER: The Muslim Association of Greece (MAG) said that it has received a threatening note giving all Muslims, Greeks and foreigners, one month’s time to evacuate the country or be “slaughtered like chickens,” according to a statement released by the association on May 18.

The note, published on the association’s webpage, is written in Greek, English and Arabic and the Golden Dawn emblem is printed on the paper, although there is no claim of responsibility from the neo-Nazi group that has 18 seats in Parliament, wants all immigrants out of Greece and has been accused of assaults on them, which the party has denied.

The note is printed over a symbol of Golden Dawn which has an openly anti-immigrant, anti-Muslim, anti-gay, anti-Semitic, anti-foreigner, ultra-religious jingoistic platform and says it wants a Greece populated only by Greeks with 100 percent Greek blood from both parents. » | Andy Dabilis | Saturday, May 18, 2013

Below is the content of the note, expurgated.

Muslim Murderers

Until June 30 you shut your bordela in Greece and you will go to hell.

From July 1 onwards those who are still here will [be] slaughtered like chickens on the road.

Islam F*** you, f*** you and the Koran f***ing your mothers.

There will be blood.

Greece Debt: EU Agrees Bailout Deal
THE GUARDIAN: Exclusive: Germany plays pivotal role in potential eurozone rescue package for Greek debts

The eurozone has agreed a multibillion-euro bailout for Greece as part of a package to shore up the single currency after weeks of crisis, the Guardian has learnt.

Senior sources in Brussels said that Berlin had bowed to the bailout agreement despite huge resistance in Germany and that the finance ministers of the "eurozone" – the 16 member states including Greece who use the euro – are to finalise the rescue package on Monday. The single currency's rulebook will also be rewritten to enforce greater fiscal discipline among members.

The member states have agreed on "co-ordinated bilateral contributions" in the form of loans or loan guarantees to Greece if Athens finds itself unable to refinance its soaring debt and requests help from the EU, a senior European commission official said.

Other sources said the aid could rise to €25bn (£22.6bn), although it is estimated in European capitals that Greece could need up to €55bn by the end of the year.

Germany, the EU's traditional paymaster, but the most reluctant to come to the rescue of a fiscal delinquent in the current crisis, has played the pivotal role in organising the rescue package, the sources added. >>> Ian Traynor in Brussels | Friday, March 12, 2010

Euro Bounces Back on Greece Bailout Plan
TIMES ONLINE: The euro bounced back from a ten-month low today, after eurozone leaders agreed on a joint bailout package for Greece with the International Monetary Fund (IMF).

The European single currency was up against the dollar by 0.45 per cent to $1.3335 after earlier lows of below $1.3280. The euro has fallen by almost 7 per cent so far this quarter on concerns about the Greek debt crisis.

Yesterday, in a deal driven by Germany and France, EU leaders agreed on sweeping new powers to co-ordinate all EU economies as part of the landmark €30 billion (£27 million) bailout package for Greece.

However, analysts warned that the euro was still at risk of further declines as the Greece plan had not alleviated long-term worries about Portugal and Spain. On Wednesday, Fitch Ratings lowered Portugal's sovereign credit rating to AA-minus from AA.

The Greece bailout plan plan will put Herman Van Rompuy, of Belgium, the new permanent European Council President, in charge of “the economic governance of Europe”.

It will be seen as a direct challenge to Gordon Brown, who will want to make sure that Britain does not surrender any control over its own economy to Brussels. The next government in London may also face a tough fight in Europe because Angela Merkel, the German Chancellor, suggested yesterday that a new treaty would be needed to give the EU extra economic powers — despite the pledge from EU leaders last year that the Lisbon treaty would be good for a decade. >>> David Charter, Rory Watson, Francesca Steele | Friday, March 26, 2010

Union Européenne : «La zone euro ne laissera jamais tomber la Grèce»
LE TEMPS: Un accord a finalement été trouvé tard dans la nuit à Bruxelles. Les pays de la zone euro entérinent la constitution d’un filet de sécurité pour empêcher que la crise grecque ne dégénère. Ils sont prêts à accorder des prêts bilatéraux aux côtés du FMI dans une proportion qui pourrait être de deux tiers, un tiers. L’euro est repassé au-dessus de 1,33 dollar ce matin

L’accord sur un mécanisme d’aide financière à la Grèce sur lequel étaient tombés d’accord jeudi après-midi le président Nicolas Sarkozy et la chancelière Angela Merkel a finalement été entériné jeudi, tard dans la soirée, par les chefs d’Etat et de gouvernement de la zone euro. «La zone euro prend son destin en main et s’est mise d’accord pour gérer les crises [en son sein]» s’est réjoui peu après le président français. Même Jean-Claude Trichet, le responsable de la BCE opposé à tout soutien, s’est dit «très heureux» d’un plan «préservant la responsabilité des pays de la zone». «Ce mécanisme ne se substitue pas à la discipline financière, c’est un filet de sécurité», a précisé plus tard dans la nuit José Manuel Barroso, président de la Commission européenne. Filet de sécurité >>> Pierre-Alexandre Sallier Bruxelles | Vendredi 26 Mars 2010

Troubled Greece: Fears of 'First Domino' to Fall as Austerity Is Counted a Failure

THE GUARDIAN: Greek's leftist party Syriza says recovery depends on a renegotiated bail-out and access to European structural funds

The soup kitchen opens at noon but long before then the queues start to form in the hot Athens sun. A couple of streets away from where sardines, red mullet and squid are piled high in the fish market, those down on their luck line up. While elsewhere life goes on seemingly as normal, students, jobless people, single parents and pensioners swallow their pride and wait patiently. They get two meals a day, at midday and 5pm. This is what a depression looks like.

At first blush, Greece seems no different from any other developed country. People sit in the city centre cafes sipping their iced coffees; yellow taxis cruise the streets; the shops are open for business. But different it is, and it is not hard to spot the signs that this is an economy that has contracted by 20% since the downturn began three years ago and that it is still falling.

You don't need to know that spending in the shops is down by a sixth over the past year; it is obvious from the empty cabs and those shops open but with no customers. You don't need to know that the official unemployment rate is well above 20% and youth unemployment is nudging 50%: it's obvious from the young men idling on street corners and openly dealing drugs.

Greece is broke and close to being broken. It is a country where children are fainting in school because they are hungry, where 20,000 Athenians are scavenging through waste tips for food, and where the lifeblood of a modern economy – credit – is fast drying up.

It is a country where the fascists and the anarchists battle for control of the streets, where immigrants fear to go out at night and where a woman whispers "it's like the Weimar republic [sic]" as a motorcycle cavalcade from the Golden Dawn party, devotees of Adolf Hitler, cruises past the parliament building. Graffiti says: "Foreigners get out of Greece. Greece is for the Greeks. I will vote for Golden Dawn to remove the filth from the country." » | Larry Elliott, economics editor | Thursday, May 31, 2012

Related »

Angela Merkel: EU Future at Stake in Greek Crisis
THE TELEGRAPH: Angela Merkel, the German chancellor, has warned that the future of the Europe Union is at stake as the crisis over the Greek bailout pushed the euro to a 13-month low against the dollar.

Ms Merkel on Wednesday defended her decision to back the unpopular measure and called on fellow politicians to give their support.

"The future of Europe and the future of Germany within Europe is at stake," Ms Merkel told the parliament, which will vote on Friday on a package that would see Germany lend 22.4 billion euros (£19 billion) in taxpayers' money to Greece.

As Ms Merkel attempted to calm fears in Germany, the euro fell on Wednesday to $1.2937 - the lowest level for more than a year.

The slide was the latest sign of continued loss of investor confidence in European economies. >>> | Wednesday, May 05, 2010

Merkel Links Europe's Future to Greek Aid Plan
THE INDEPENDENT: An international rescue plan for debt-stricken Greece must succeed or other European countries may suffer the same fate, threatening the bloc's future, German Chancellor Angela Merkel said today.

In an impassioned speech to the Bundestag lower house of parliament, Merkel said Germany was now convinced of the need to bail out Greece and confident the Greek government would carry out the swingeing cuts it had pledged to tackle its deficit.

"We're at a fork in the road," Merkel told the assembled lawmakers. "This is about nothing less than the future of Europe - and with it the future of Germany in Europe."

"There is no alternative to the aid to be agreed for Greece if we want to secure the financial stability of the euro area."

"It must come to avoid a chain reaction in the European and international financial system and the risk of contagion of other euro member states," she added.

At the weekend, officials from the European Union and International Monetary Fund (IMF) revealed details of a 110-billion euro ($147 billion), three year aid package conditional on strict austerity measures that have led to mass protests in Greece.

"Europe today is looking to Germany. Without us, or against us, there cannot or will not be a decision that is economically sustainable," she said to a Bundestag session in which she was regularly interrupted by shouts from opposition lawmakers. >>> Reuters | Wednesday, May 05, 2010

Eurozone Crisis: Sarkozy Says Greece Was Not Ready to Join Euro

THE GUARDIAN: French president's remarks highlight the challege European leaders have in trying to hold the currency together

Nicolas Sarkozy threatened to take the shine off a day of jubilation in financial markets at a deal to rescue the eurozone, when he said it had been an "error" to allow Greece to join the euro a decade ago.

Amid more protest on the streets in Athens, the French president tried to convince the public to back reforms intended to maintain Greece's membership of the single currency. "It was an error because Greece entered with false [economic] figures … it was not ready," he said.

Sarkozy told French TV: "We had to face up to all this. If the euro had exploded on Wednesday night, all of Europe would have exploded. If Greece had defaulted, there would have been a domino effect carrying everyone away ... we took important decisions that avoided catastrophe."

His remarks underline the continuing frailities of the eurozone, and illustrates the task Europe's leaders have in trying to hold the currency together. » | Larry Elliott, Jill Treanor and Helena Smith | Thursday, October 27, 2011

Rise of Greece’s Golden Dawn: A Presage of Doom

JEWISH JOURNAL: The undisguised extremism promoted by Golden Dawn is a chilling watershed in Greece’s post[-]war democracy. Fascist gangs are turning Athens into a city of shifting front lines, seizing on crimes and local protests to promote their own movement, by claiming to be the defenders of recession-ravaged Greece.

The People’s Association – Golden Dawn — usually referred to simply as Golden Dawn — is a right-wing extremist political organization in Greece. It is led by Nikolaos Michaloliakos, and has grown considerably since its inception to a widely known Greek political party with nationwide support.

Greece’s neo-Nazi Golden Dawn Party is gaining popularity in the midst of the country’s deepening financial crisis. The group has been implicated in torture cases, and for inciting a wave of racial violence sweeping the country.

An opinion poll published by KAPA Research in October showed that support for the extremist political group had grown from 7.5 percent of the population in June to 10.4 percent currently.

The Golden Dawn emerged from political obscurity into the mainstream in May after winning 7 percent of the vote in the Greek parliamentary elections. Since then, the country has reportedly witnessed an upsurge in racial violence connected to the right-wing group.

The party entered the international spotlight after some of its members reportedly participated in the 1995 Srebrenica massacre of Bosnian Muslims. Its publication praises the Third Reich and often features photographs of Hitler and other Nazis.

Golden Dawn has manipulated a weak Greek state and disastrous austerity management by European bureaucrats to become, according to recent polls, the third-most popular political party in the country — a noxious omen for the eurozone and a worrying challenge and counterpoint to the very idea of the European Union itself, which received last year’s Nobel Peace Prize. » | Hatef Mokhtar | Thursday, March 14, 2013