Greece

Self-Deception in Berlin Impedes Greece Strategy

Self-Deception in Berlin Impedes Greece Strategy

By Sven Böll, Christoph Schult and Anne Seith

Translated from the German by Christopher Sultan

19 November 2012

 

With elections approaching in 2013, Berlin is blocking a workable solution for Greece. German leaders are eager to avoid angering voters by giving more money to Athens, but their European partners are losing their patience.

IMF Greek Debt Default Demand Could Haunt Merkel

IMF Greek Debt Default Demand Could Haunt Merkel

Spiegel Online, with reporting by Severin Weiland
14 November 2012

The International Monetary Fund wants Greece's creditors to forgive a portion of the country's debt, a move which could cost Germany up to 17.5 billion euros. With general elections approaching next year, Chancellor Angela Merkel is adamantly opposed to such a move.

EU-IMF Spat over Greece Worries Investors

EU-IMF Spat over Greece Worries Investors

Spiegel Online
13 November 2012

Even as European finance ministers agreed with the International Monetary Fund on Monday to grant Athens more time to meet its budget reduction targets, a deep rift became apparent. Greece's overall debt load is massive, and the EU and IMF are in conflict over the best method and timeframe for reducing it.

Eurozone faces brinkmanship on Greece

Eurozone faces brinkmanship on Greece

Financial Times, 8 November 2012

By Peter Spiegel in Brussels

Eurozone leaders face a new round of brinkmanship over Greece’s €174bn bailout after international lenders failed to bridge differences on how to reduce Athens’ burgeoning debt levels, pushing the country perilously close to defaulting on a €5bn debt payment due next week.

Greek-Israeli joint air force exercise held at Larissa AB Greece, Oct. 21-26th

 Greek-Israeli joint air force exercise held at Larissa AB Greece, Oct. 21-26th

November 4, 2012

 

According to a laconic announcement of the Hellenic Air Force, “from Sunday, 21 to Friday, October 26, 2012 and in the context of the Military Cooperation between Greece and Israel for 2012 a joint training exercise took place at the 110 Combat Wing / Air Base Larissa in Greece”.

Greece caught in trap of rising national debt

Greece caught in trap of rising national debt

 

Economic Times, 2 November 2012

ATHENS: Greek debt has turned into a modern version of a nightmare from mythology in which the more the country cuts and taxes to climb the mountain, the deeper down it falls.

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