European reluctance to help Athens re-finance its €54 billion debt is punishing the other eurozone nations worst affected by the crisis, leads ABC. March 22 saw another day of panic on the Spanish, Portuguese and Irish stock exchanges as Berlin continues to hold out on a bail-out plan for the troubled Greek economy. This against a backdrop in which “40% of Germans believe that the country would be better off without the euro”, the Spanish daily points out. Spanish president José Luis Zapatero and President of the European Commission Jose Manuel Barroso are feverishly trying to convince Chancellor Angela Merkel to agree on a plan prior to the 25 March EU summit in Brussels, “to avoid a Eurozone credibility crisis", the Madrid daily concludes.
The leader of Greece’s leftist alliance SYRIZA is the new bright hope of Greek politics. Steering a course between pragmatism and the rhetoric of class warfare, he has unsettled Berlin, and not just those who back Angela Merkel's austerity policies.
Europe’s economic woes have forced us to try to understand the secret Olympian world of global finance. But now that we pay more attention to bond yields and stability mechanisms, isn’t it clear that the experts up on their lofty peaks don’t know what’s going on either?
This year’s Eurovision Song Contest is hosted by Azerbaijan, a country that is far from being a model democracy. An Estonian journalist takes a critical look at the deferential treatment enjoyed by the regime in Baku.