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Der Spiegel German Magazine States: “The Problem Child of Europe is Greece”

The German magazine Der Spiegel in its electronic edition refers to Greece, which is characterized as the problematic child of Europe. Speaking about yesterday’s results of Eurostat concerning the debt, it underlines that the mountain of the country’s debt is higher than expected. According to the magazine, the solution for the servicing of the Greek debt is to be served either with very high increase rates or with restructuring. “Considering that Greece has not presented a development model which will mark the turn, only the possibility of restructuring remains”, Der Spiegel mentions. Additionally, “Frankfurt Neue Presse” says that “Greece is not running a Marathon, but it faces an Odyssey and no one knows if the country will arrive to its destination. In any case, the publication of new financial information by Eurostat, increases doubts, the newspaper observes, submitting all new data regarding the national debt. The German edition of “Financial Times” notices: “Bigger than expected the financial ‘hole’. The data that Athens submitted are corrected again. Apart from that, economist and member of German Council of Economic Experts Lars P. Feld comes out for the Greek debt’s restructuring. Bond markets react in horror”, the newspaper writes.

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