In its recent report entitled “Europe: The crisis casts media away”, French newspaper Libération refers to the financial difficulties mass press and electronic media are facing throughout Europe, leading to the layoff of hundreds of employees and bankruptcies.
In Greece, historic newspaper Eleftherotypia is on the brink of bankruptcy, with 800 employees in danger of losing their job overnight. The French report characterizes the situation as an utter catastrophe.
“For the past two years Greek mass media have been at the centre of an economic whirlwind and the only way out of this seems to be filing for protection from the creditors under Article 99 of the Bankruptcy Code” reads Libération.
The Libération correspondent article from Athens entitled “Greece: Bankruptcies and strikes at the front” makes a special reference to DOL Group, private channel ALTER, Eleftherotypia and Apogevmatini newspapers, which are facing imminent collapses.