The Greek patient returns for more help

by BEN CHU The Greek begging bowl is being brandished, once again, in European capitals. The leader of the country’s coalition government, Antonis Samaras, wants Athens to be given more time to fulfil the conditions of its IMF/EU bailout. Under the agreement’s present terms, Athens is required to reduce its budget deficit, which stood at 9.3 … Continue reading

ECB Plans to Set Yield Targets for Bond Purchases

Interest rates on Spanish sovereign bonds have been rising to dangerous levels in recent weeks. Now, SPIEGEL has learned that the European Central Bank plans to use a new instrument to stop the trend: The bank is considering setting yield targets on the bonds of euro-zone countries. Should interest rates exceed those levels, the ECB … Continue reading

Angela Merkel, swimming instructor

WHEN warnings sound that the end of the euro is nigh, all eyes turn to Angela Merkel, the German chancellor. Germany must “assume its part” in saving the currency, says Spain’s economy minister, Luis de Guindos. If there is rescuing to be done, Germany is the obvious rescuer. Yet rather than toss out the lifebelt, … Continue reading

From Nazi to Terminator, Europe’s media target Merkel

By Madeline Chambers (Reuters) – Demonised in Europe’s media as a red-eyed Terminator robot, a flabby centre-fold pinup and a fleshy Roman god eating Greeks, German Chancellor Angela Merkel has become the subject of a new wave of vitriol for her tough stance on the euro zone crisis. Already a figure of hate in Greece … Continue reading

Angela Merkel’s mania for austerity is destroying Europe

The German Chancellor is terminating growth and pushing us towards a new Depression. BY MEHDI HASAN Which world leader poses the biggest threat to global order and prosperity? The Iranian president, Mahmoud Ahmadinejad? Wrong. Israel’s prime minister, Binyamin Netanyahu? Nope. North Korea’s Kim Jong-un? Wrong again.

Merkel’s Referendum Sets Greeks on Fire – Eurogroup Knew About it…

With her ‘alleged’ (?) euro-referendum proposal German Chancellor Angela Merkel achieved the impossible: to unite all Greek Parties against her! The pro-bailout and the contra-bailout parties alike. Despite denials from the German side and confirmations from the Greek side, there is still confusion on Saturday morning as to whether Angela Merkel suggested to Greek President Karolos … Continue reading

Greece must default if it wants democracy

When Wolfgang Schäuble proposed that Greece should postpone its elections as a condition for further help, I knew that the game would soon be up. We are at the point where success is no longer compatible with democracy. The German finance minister wants to prevent a “wrong” democratic choice. Similar to this is the suggestion to let the … Continue reading

Greece is being destroyed by ‘respectable’ fanatics

The EU, which boasts that solidarity is its founding principle, is forcing Greece into destitution and chaos Greek democracy is being destroyed. Not by soldiers marching with insane slogans on their lips about the inevitable triumph of the German master race, international proletariat or global jihad, but by moderate men and women who think themselves … Continue reading

DEAR EUROPE: Pull Your Heads Out Of The Sand And Take A Look At Greece

We have a question for Ms. Merkel and Mr. Sarkozy and everyone else in Europe who is still pretending that the problem in Greece is that they aren’t “austere” enough. Have you taken a look at Greece lately?

European Doubts Growing over Greece Debt Strategy

‘The Troika’s Policies Have Failed’ For months, European leaders have been trying to find a way out of the Greek debt crisis. But austerity is merely driving the country deeper into economic despair. Is it time for a radical rethink? Many think the answer is yes. By SPIEGEL Staff