17th Feb - Press Digest

Here are the ending week’s select articles on (mostly) the euro crisis from the ‘big three’ Der Spiegel, The Telegraph and The Economist.

THE TELEGRAPH

Debt crisis: As it happened

Fri Feb 17 (online later)

Thu Feb 16

Wed Feb 15 
Tue Feb 14

Mon Feb 13

Germany's Carthaginian terms for Greece – The Telegraph

The last time Germany needed a bail-out from world creditors, it secured better terms than shattered Greece last week.

Germany has forgotten the lessons of war reparations – The Telegraph

Given its history, it is quite strange that Germany has such difficulty in grasping this reality.

Just as Greece complies at last, Europe pulls the plug – The Telegraph

Officials from the EU and the International Monetary Fund made two grave errors when they swooped into Greece in mid-2010 and dictated the now hated "Memorandum".

Greek economy spirals down as EU forces final catharsis – The Telegraph

A Greek default and traumatic ejection from the euro moved a step closer last night after eurozone finance ministers cancelled a crucial meeting, accusing Athens of failing to flesh out austerity cuts.

THE ECONOMIST

Rescuing Greece: Beyond the edge – The Economist

Whatever happens to Greece, the failings of the euro zone have not been addressed

Running against Merkozy – The Economist

Why Angela Merkel is campaigning against François Hollande in France

DER SPIEGEL

'I Don't Accept Insults to My Country by Mr. Schäuble' – Spiegel

Europe may be losing patience with Greece, but politicians in Athens are also growing increasingly sensitive to criticism from abroad. Greek President Karolos Papoulias has now gone public with his frustration over pressure from Germany. On Wednesday night, he gave the German finance minister a tongue-lashing.

Reform Hero Takes on Corruption in Thessaloniki – Spiegel

European Union officials have nothing but praise for the mayor of the Greek city of Thessaloniki. Yiannis Boutaris has been pushing ahead with far-reaching reforms to undo the abuses of his predecessors and has already slashed the city's spending by 30 percent. He's even asking the Germans for advice.

Euro Group Delays Meeting: Berlin Grows Impatient over Greece – Spiegel

Greece has still not met European Union demands for details about an additional 325 million euros in spending cuts, leading to the cancellation of the planned Euro Group meeting on Wednesday. Political leaders in Germany are getting nervous -- and increasingly impatient.

'Greece Cannot Be Ruled Against the Will of its People' – Spiegel

Greece may now have passed the austerity measures demanded from the European Union and the International Monetary Fund, but the country's political system is showing signs of stress. Additional pressure from Europe isn't helping. German commentators warn that political radicalization cannot be ruled out.

Moody's Delivers Damning Verdict on Euro Zone – Spiegel

The ratings agency Moody's has downgraded six euro-zone members, including Italy, Spain and Portugal, and warned that France, Britain and Austria may lose their triple-A rating. The agency said its decision was based on the "growing risks" caused by Europe's ongoing debt crisis.

European Doubts Growing over Greece Debt Strategy – Spiegel

For months, European leaders have been trying to find a way out of the Greek debt crisis. But austerity is merely driving the country deeper into economic despair. Is it time for a radical rethink? Many think the answer is yes.

The EU's Emissions Trading System Isn't Working – Spiegel

Emissions trading, the European Union hoped, would limit the release of harmful greenhouse gases. But it isn't working. The price for emissions certificates has plunged, a development that is actually making coal more attractive than renewable energy.