Ronaldo’s new position – bank collateral
The most expensive footballer in history may now be used to guarantee the solvency of a Spanish bank. “Ronaldo in the bailout fund,” headlines Süddeutsche Zeitung. The daily reports that the Bankia group of savings banks, which financed Real Madrid’s acquisition of the Portuguese player, is now seeking to borrow funds from the European Central Bank. In response to the ECB’s demand for guarantees, Bankio are putting up… Ronaldo and the Brazilian Kaka, who also plays for the Madrid football club. In 2009, Real borrowed 76.5 million euros to pay transfer fees of 100 millions euros to Manchester United, and 60 million to Milan AC.
“Could we see a situation in which the ECB seizes one of the players?“ wonders the Munich daily. “In theory, it is possible. Bankia would first have to become insolvent. Thereafter, Real would have to default on its loans, which are secured by advertising and television revenues. It goes without saying that Real Madrid is in debt to the tune of several million euros. However, in Spain football clubs have a history of obtaining publicly funded bailouts – just like the country’s banks.”
Drive Greece out of the euro, and build a federal Europe behind a protective firewall? Italian columnist Barbara Spinelli warns that this idea, which appears to be gaining ground with a number of European leaders, would not only fail to resolve the crisis but would also put an end to Europe’s common culture. 
At 89 years of age, he is a fixture at anti-austerity demonstrations. A member of the Greek communist party for 70 years, he has also been a national icon since the day in 1941 when he climbed the Acropolis at night to tear down the Nazi flag. 
In a meeting that lasted into the small hours of Tuesday, February 21, the Eurogroup finally adopted a second bailout plan for Greece of €130 billion with an additional €107 billion in cancelled debt. But failing a genuine economic development plan, this sum will not be sufficient to put the country back on its feet, warns Greek daily To Ethnos.