The End of the Bailout: Greece Is Back on the Grid, But Recovery Remains Elusive

The End of the Bailout: Greece Is Back on the Grid, But Recovery Remains Elusive

SPIEGEL ONLINE - August 14, 2018

On August 20, the third aid package for Greece will end, marking the end -- for now -- of the country's debt crisis. But the country's slow economic growth and grim demographic outlook mean that even without the onerous rules attached to its repayments, it faces an uphill battle. By Giorgos Christides and Tobias Rapp more... Comment ]

The Charm Wears Off: Tsipras Caught Between EU and Voter Demands

The Charm Wears Off: Tsipras Caught Between EU and Voter Demands

SPIEGEL ONLINE - November 01, 2016

When he got elected nearly two years ago, Greek Prime Minister Alexis Tsipras promised to stand up to the EU's austerity demands and restore his country's dignity. His failure to deliver risks plunging the country into a new political crisis. By Giorgos Christides and Katrin Kuntz more... Comment ]


Greece: Endgame for the IMF-EU Feud over Greece's Debt

Greece: Endgame for the IMF-EU Feud over Greece's Debt

SPIEGEL ONLINE - April 03, 2016

Greece hasn't been saved just yet, and the conflict between the International Monetary Fund and Europe is once again intensifying. Greece's former minister of finance Yanis Varoufakis expects a showdown between the IMF and Germany. more... Comment ]

Scion of Austerity: A Tall Order for New Greek Reform Minister

Scion of Austerity: A Tall Order for New Greek Reform Minister

SPIEGEL ONLINE - September 03, 2013

Kyriakos Mitsotakis has only been minister for administrative reform for a few weeks. But he is already under heavy pressure from the troika to reduce Greek spending. To show he means business, the ambitious son of an old political family will soon cut thousands of jobs. By Julia Amalia Heyer more... Comment ]


Viva la Siesta: Should Southern Europe Really Be More German?

Viva la Siesta: Should Southern Europe Really Be More German?

SPIEGEL ONLINE - June 28, 2013

In the wake of the euro crisis, Southern Europeans have increasingly traded their traditions of leisure for more work and more consumption -- often at Germany's prodding. As backlash sets in, this logic must be questioned. An Essay by Max A. Höfer more... Comment ]

Wealth Report Criticism: Merkel Says Germans Richer than Statistics Suggest

Wealth Report Criticism: Merkel Says Germans Richer than Statistics Suggest

SPIEGEL ONLINE - April 19, 2013

Germans are more prosperous than a recent ECB survey indicates, Chancellor Angela Merkel insists. With a number of caveats distorting its results, the controversial report did not factor in the country's generous social policy, she says. more...


Spreading Like Wildfire: A Chronicle of the Euro Crisis

Spreading Like Wildfire: A Chronicle of the Euro Crisis

SPIEGEL ONLINE - June 20, 2011

When the euro crisis started in Greece in October 2009, nobody had any idea how quickly or broadly it would spread -- or how difficult it would be to solve. Below, some key dates in this still-unfolding saga. more...

Desperate Bid to Cut Deficit: Greek Privatization Plan Faces Massive Domestic Resistance

Desperate Bid to Cut Deficit: Greek Privatization Plan Faces Massive Domestic Resistance

SPIEGEL ONLINE - June 07, 2011

Greece is scrimping and saving, but still failing to get its debt crisis under control. The government plans to raise 50 billion euros through a privatization program, but faces massive resistance from Greeks worried about selling off the nation's assets. Experts also doubt whether the strategy will work. By Manfred Ertel in Athens more...


The Manila Model: Plan Would Place Burden for Euro Rescue on Creditors

The Manila Model: Plan Would Place Burden for Euro Rescue on Creditors

SPIEGEL ONLINE - January 24, 2011

Despite public denials, euro zone governments are currently working on a proposal to relieve Greek bond debt. The proposal has a number of advantages for all countries involved, but it also entails risks that may be insurmountable. Some believe regulatory pressure will be required to force banks to take voluntary losses on their loans to Athens. By Peter Müller and Christian Reiermann more... Comment ]

SPIEGEL Interview with Economist Nouriel Roubini: 'Europe Needs Growth to Prevent a Collapse of the Euro'

SPIEGEL Interview with Economist Nouriel Roubini: 'Europe Needs Growth to Prevent a Collapse of the Euro'

SPIEGEL ONLINE - January 11, 2011

Europe, says star economist Nouriel Roubini, needs to take immediate action to shore up the euro. In an interview with SPIEGEL, Roubini said Germany must provide more money to defend the common currency and allow the European Central Bank to loosen monetary policy. Otherwise, disaster could be looming. more... Comment ]