At ECB, interest grows in the crisis
The Dutch daily Volkskrant calculates that the European Central Bank (ECB) has earned €17 billion since the crisis set in. “After the crisis broke out in Europe in September 2008, the ECB granted close to €14,000 billion in loans, on which it made €19.2bn in interest. During the same period, several banks invested these loans with the ECB, so the latter has had to pay them close to €2bn in interest. The difference is what ECB president Jean-Claude Trichet once called ‘our profits’. Outside times of crisis, these profits average €12bn.” De Volkskrant reassures its readers, however, by reminding them that “these profits only exist on paper: the ECB is not going to invest or spend that money” on anything but combating the effects of the crisis. “Europeans can rest assured: their tax monies used to save the banks have not vanished into thin air.”
In a time of crisis with high unemployment, young Lithuanians are following in the footsteps of their emigrant ancestors. Tens of thousands have left the country in search of a better life, mainly in the British Isles and Scandinavia. The weekly Veidas reports:
The new Eurogroup meeting on February 9 is not enough to banish the spectre of a Greek bankruptcy. While Athens may largely be responsible for the crisis, the EU and its partners are not blameless themselves. La Stampa argues that their confused messages and the absence of any strategy have transformed a resolvable problem into an explosive chaos.
Two camps, two theories, and two visions of France: 18 years after the massacre of 800,000 Tutsis, the precise role played by Paris is still the subject of heated debate, fueled by the findings of successive criminal investigations.