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Media Reaction on European Agreement

The BBC focuses on the positive reaction of the markets towards the plan for managing the debt crisis in Greece. However, it expresses concerns regarding Greece’s efforts to impose the unpopular austerity measures and the privatizations.
The Financial Times claim that this agreement was a political victory for Angela Merkel, but will certainly lead to the first bond default in the euro zone eventually. The newspaper claims that the Greek debt is not sufficiently diminished and another debt restructuring will be needed in the future, unless they transfer more funds to Greece.
The Economist mentions that thanks to the agreement, the Greek problem was solved temporarily, but that investors fear they will face losses. Also, according to the newspaper, although the European leaders supported that Greece is unique case, similar plans might be followed for Ireland and Portugal and believe the euro zone is still in danger.
The French press considers that the agreement was successful, but wonders if it is politically sufficient. While the German press is divided. Some newspapers believe that Europe will recover and praise the dynamic role of Merkel, but others seem mildly optimistic or believe that the chancellor could not impose her opinions. In fact, the German newspaper “Bild” wrote that Greece declared officially a default that was predicted.

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