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Series of German Reports Predict Greek Default

A series of German reports are predicting with great certainty the ominous future of debt-riddled Greece. According to most newspapers of wide circulation in Germany, the default scenario threatening the country is about to be realized, and a positive PSI outcome is deemed as highly doubtful.

In its report, entitled “The Greek debt in danger”, Handelsblatt newspaper noted that private investors and the Greek government are tangled in rocky negotiations, while investors are toughening their stance towards Greece.

The German edition of Financial Times is pointing out that “many investors have taken for granted that Greece will default for quite a long time now”, despite the Euro Zone’s and private creditors’ joint bailout efforts to prevent the suspension of payments and aid the beleaguered economy. The latest aim is to impose a new haircut of 50%.

German Der Spiegel is also reporting on Greece’s imminent default in its article “Lesson from Lesvos”, in which the publication raises questions about whether new loans and haircuts are of any help, since the state is already malfunctioning.

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