Euro-Zone News and Analysis
Press summary: Greek Communist Party organises rally in Athens as parliament votes on terms of second bailout
Kathimerini reports that the Greek Communist Party has organised a rally in Athens this evening, as the Greek parliament convenes to vote on the terms of the €130bn second Greek bailout. Protest rallies are also being organised in other Greek cities. An article in FT Deutschland notes that, as a result of the Greek crisis, it has become more difficult for German municipalities to get easy access to credit.
Die Welt reports that the German government has put forward draft legislation to increase the participation of the Bundestag in decisions concerning the eurozone bailout funds, however, it was not possible to secure cross-party consensus on the issue after the opposition complained that the “exceptional circumstances”, under which decisions could still be delegated to a limited number of MPs were too vaguely defined.
FT WSJ Le Monde FT 2 Il Sole 24 Ore Kathimerini Kathimerini 2 Expansión Expansión 2 Les Echos: Papandreou IHT Le Figaro Les Echos Telegraph Telegraph: Evans-Pritchard WSJ: Brady Irish Times FTD Welt
Dutch magazine Elsevier reports that according to the Dutch Bureau for Economic Policy Analysis, the Netherlands’ public deficit in 2013 will be even higher than previously estimated – 4.6% and not 4.5% of GDP – thereby challenging EU demands to impose austerity.
FAZ: SPD and Hollande’s positions on ‘fiscal treaty’ are “incompatible”
SPD Chiarman Sigmar Gabriel has attempted to play down the differences between his party and French Socialist Presidential candidate Francois Hollande over the ratification of the ‘fiscal treaty’, claiming that Hollande’s call for ‘renegotiation’ and his calls for ‘supplementation’ were complementary. A leader in FAZ argues that “In essence few of Hollande’s propositions agree with those of the SPD; they are fundamentally opposed to German policy. In the event of [Hollande’s] electoral victory, there would be strife in the Franco-German house, regardless of who is Chancellor in Berlin”.
Irish Agriculture Minister Simon Coveney said that “We are going to press ahead with a date that suits the Irish people for a referendum. We’re not going to have to ask the Irish people twice. I don’t see how the French can bring in a new treaty on their own”.
Irish Times Irish Times 2