Europe
Economy
German Economist Proposes Solutions for Greek Debt
The German economist and former member of the European Commission’s Task Force for Greece, Jens Bastian proposes an international summit for the Greek debt, similar to the one organized in 1952, which will link the debt’s “haircut” with certain...
Europe
Chancellor Merkel on Greek Debt
"Greece needs to reduce its debt to 110% of the GDP by 2022," Chancellor Angela Merkel said, when answering a question posed by a Greek reader of Bild, who participated in a panel put together by the German newspaper.
Maria...
Europe
Charges Merkel Hiding Greek Debt Cut
The German newspaper Die Zeit published an article, entitled “The bill, please!” in which it charged that Chancellor Angela Merkel, facing re-election next month, is deliberately concealing that she will go along with Greece imposing losses on its lenders,...
Economy
Fratzscher Sees Greek Debt Restructure
According to Deutsche Welle’s internet page, Marcel Fratzscher, president of the Berlin based economic research institute DIW, considers a new restructuring of the Greek debt to be only a matter of time.
As stated by the same source, in his...
Economy
German Economists Oppose Greek Debt Restructure
A debt restructuring in Greece and in Portugal “could blow the entire Eurozone up,” due to the big losses that it would bring to the creditors, warned German economist Peter Bofinger, in an interview with Berliner Zeitung.
“The European banks...
Europe
Ifo Sees New Greek Debt “Haircut”
With two bailouts of $325 billion failing to make much of a dent in Greece's crushing economic crisis, an analyst at the Ifo Institute in Munich has recommended that the country impose big losses on public investors the same...
Economy
Schaeuble Says Greek Debt Out of Control
German Finance Minister Wolfgang Schaeuble has sent a letter to the President of the German Parliament in which he stated that Greek debt will be higher than estimated in a recent Eurozone meeting that agreed to release 44 billion...
Europe
Profits at Societe Generale Bank Plunge as a Result of Greek Debt
France's second-largest bank, the Societe Generale, has warned that its 2012 profit target will most likely not be reached after its second-quarter profits fell to $1.06 billion.
In a statement released to the press, the bank stated that its net...
Europe
OECD:The European Agreement Has Little Effect on Amount of Greek Debt
The Organisation for Economic Co-operation and Development (OECD) believes that the additional money to be given and the Greek debt restructuring agreed upon recently by European leaders will offer Greece the necessary time to move on with its reforms.
However, the...
Europe
Merkel Rejects the Greek Debt Restructuring
Angela Merkel, Chancellor of Germany referred to the new rescue package as a significant political agreement. However, she rejects any possibility of debt restructuring.
Under this decision, we are saving valuable time, stressed the Chancellor. According to her, Greece is dealing...
Europe
Financial Times Claimes Investors & Markets Expect Greek Debt Restructuring
The German issue of The Financial Times noted that investors and financial markets expect Greek debt restructuring. Christian Kirchner stated in a Financial Times article: “Even an expected restructuring of the Greek debt does not shock anyone, any more. On...
Europe
German Experts Comment on Greek Debt Crisis
Greece austerity measures cannot prevent default and will lead to a breakdown of political order if continued for long, a leading German economist has warned. 'This tragedy does not have a solution,' said Hans-Werner Sinn, head of the prestigious...
Economy
SPD’s Scholz Bags German Finance Post, Raising Greek Hopes of Debt Relief
Greek hopes of debt relief were strengthened on Wednesday with the likely appointment of a center-left finance minister in Berlin, as German politicians finally agreed on a new grand-coalition government.
After more than four months of deadlock, Chancellor Angela Merkel will remain...
Economy
Dimitriou a Greek Link with Merkel On Greece’s Debt
He's not the Greek Prime Minister, but Costas Dimitriou, President of the Association for the Greek Communities of Germany, sees German Chancellor Angela Merkel every three months in Berlin to have some serious talks about Greece. They discuss Greece's financial...
Europe
ΒΒC Reports on Greek Olympic Legacy Fading Away Amidst the Debt Crisis
The Greek Olympic team to compete at the upcoming London Olympics 2012 is going through all the harsh consequences brought on by the debt crisis that is plaguing the country for the fifth year in a row. The BBC...