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Neither a borrower nor a lender be
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Greek unemployment is up to 11% and this does not reflect the women who are not registering as unemployed. About 100,000 public sector workers will be let go by 2013 as the austeity plan takes effect. The three year reform programme from the IMF, the European Commission and the ECB tries to cut the budget deficit from 13.6% to 2.7% of GDP in a quick three years even as the econmy is shrinking. The criticism of Germany is relatively less, but there is strong resentment in Greece for the IMF program with 60% of Greeks opposing it. And in Germany Merkel faces voter resentment of having to pay for other EU member countries mistakes in the election in North Rhine-Westphalia, where her CDU and FDP coalition faces a tough challenge. Intenationally Merkel is facing tough criticism for waffling as the euro currency faced a serious threat. The whole European Union plan was being put to the test resulting in the size of the bailout growing from $60 billon to $160 billion in a few weeks, many experts calling it ineptitude.
Greece, debt and the new austerity budgets 2011-2013
12/10/2009
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Wall Street Journal 10/14/2013
Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
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Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
Greece: Austerity Budget Passed
New York Times 12/25/2009
Greece and the European Union.
02/12/2010
The difficult economic situation in Greece and risks it poses for the Euro and the EU.
Grouped Articles
Athens's Love Affair With the Euro Persists
Wall Street Journal 11/04/2013
Greece’s Woes May Give Pause to Euro Zone Candidates
New York Times 02/12/2010
Wall Street Journal 02/12/2010
Debt Load Hobbles Euro Zone's Prospects
Wall Street Journal 02/12/2010
New York Times 02/15/2010
Contemplating the Future of the European Union
New York Times 02/12/2010
Simon Johnson and other experts on the debt crisis in Europe.
04/15/2010
Simon Johnson, Peter Boone and other experts unravel the debt crisis in Greece and in other European countries to give a lucid explanation of what happened and what to expect.
Grouped Articles
New York Times 04/29/2010
Greece, the Latest and Greatest Bubble.
New York Times 04/29/2010
As Greek Drama Plays Out, Where Is Europe?
New York Times 04/29/2010
New York Times 04/30/2010
BusinessWeek 04/15/2010
Economist 04/29/2010
Greece: prospect of default on debt.
12/29/2009
Grouped Articles
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Greece, Missing I.M.F. Payment, Is Called Effectively in Default
New York Times 06/30/2015
Unknown 12/29/2009
Unknown 12/29/2009
The Worst May Not Be Over for Europe
New York Times 12/31/2009
New York Times 02/15/2010
The European Union plans for aid to Greece.
02/10/2010
Resistance in Germany to bailing out Greece.
Grouped Articles
Germany Clears Rescue for Greece
New York Times 05/03/2010
Athens's Love Affair With the Euro Persists
Wall Street Journal 11/04/2013
Germany, Forced to Buoy Greece, Rues Euro Shift
New York Times 02/11/2010
Wall Street Journal 02/12/2010
Wall Street Journal 02/11/2010
Berlin's Wall Around Greek Ruins?
Wall Street Journal 02/10/2010
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