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Germany Clears Rescue for Greece
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Finally after prolonged dithering Angela Merkel had her cabinet approve 22.4 billion euros of loans to Greece over 3 years, with parliamentary approval the next step. And the ECB followed this with its announcement that it would accept Greek debt as collateral regardless of downgrades. This follows the approval of a $110 billion rescue plan for Greece from the IMF and other European nations announced over the weekend. That ECB decision comes in the wake of Standard and Poors decision to downgrade Greek debt to junk status.
Angela Merkel's handling of the financial crises in eurozone countries
04/29/2010
The German response to the debt crisis in the eurozone and the events in 2011-2012.
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Germany Clears Rescue for Greece
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Resistance in Germany to bailing out Greece.
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Germany Clears Rescue for Greece
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Athens's Love Affair With the Euro Persists
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Berlin's Wall Around Greek Ruins?
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Germany's Angela Merkel's decisiveness at key moments in the eurozone crisis 2010-2012
04/29/2010
In dealing with bankers on bondholder losses for loans to Greece, with Greece's prime minister Papandreou over a proposed referendum on debt reduction, and with French president Sarkozy on bondholder losses to reduce Greek debt, at every turn Angela Merkel showed a clear decisiveness during the eurozone crisis in 2011-2012. After a no confidence vote for premier Berlusconi in Italy's parliament Merkel persuaded president Napolitano to win consensus for the formation of a new government headed by Mario Monti, EU commissioner. After earlier fumbling with the crisis in actions by Merkel in 2010, the German chancellor learned from errors and improved her handling of the eurozone crisis in 2011-2013.
Grouped Articles
Deepening Crisis Over Euro Pits Leader Against Leader
Wall Street Journal 12/30/2011
As Greek Drama Plays Out, Where Is Europe?
New York Times 04/29/2010
Germany Clears Rescue for Greece
New York Times 05/03/2010
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
Efforts to keep the problems of Greece from spreading to Spain and Portugal.
05/03/2010
Germany's approval of aloan for Greece, the $110 IMF plan, the announcement of trillion dollar EU support plan, and the new Zapatero austerity budget are designed to keep the problem from spreading.
Linked Articles
Spain is simply shifting the problem
Wall Street Journal 05/14/2010
Germany Clears Rescue for Greece
New York Times 05/03/2010
Germany's rescue plan for Greece.
05/03/2010
Germany finally cleared a plan to aid Greece after weeks of delay that created tension in global financial markets with Greece being shut out of capital markets.
Linked Articles
Germany Clears Rescue for Greece
New York Times 05/03/2010
Wall Street Journal 05/07/2010
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