How the world sees Greece
IMF Wants Greece To Be Financed to 2016 -Sources Wall Street Journal BRUSSELS--The International Monetary Fund wants a program for Greece that will keep the country financed to 2016 while the euro-zone insists on putting in place a financing plan that will cover it only to 2014, people with direct knowledge of the talks ... |
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 Deutsche Welle (press release) | Municipal strikes sweep Greece as country awaits fate of rescue loans Fox News ATHENS, Greece – Striking municipal workers rallied in Athens and occupied local government buildings around the country Tuesday as they protested against another round of austerity that will see big cuts in jobs and funding. Organizers at the peaceful ... Greece struggles to slash public sector jobs |
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 Brisbane Times | Greek drama reaches horror denouement Brisbane Times GERMANY, Holland and the creditor states of northern Europe have not lost a single cent on eurozone rescue packages, so far. They have lent money, at a theoretical profit. They have issued a fistful of guarantees to Europe's twin bailout funds ... |
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 San Francisco Chronicle | Optimism over Greek deal help markets brush off France's downgrade Washington Post PARIS — Hopes that Greece will get its next batch of bailout cash to avoid bankruptcy helped shore up markets Tuesday despite a downgrade of France's credit rating. Finance ministers from the euro countries are meeting in Brussels and the expectation ... European Stocks Gain Amid Speculation of Greek Aid Deal EU CONTINUES WRANGLE OVER GREEK BAILOUT AS FRANCE'S CREDIT ... |
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Where Does Greek Interest Go? Wall Street Journal (blog) The biggest recipients of Greek interest next year will be the European Financial Stability Facility and the European Central Bank (along with national central banks). The EFSF, the bloc's bailout fund, needs to get interest payments from Greece ... |
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Greece's OPAP Profit Down Due To New Tax-Framework Wall Street Journal ATHENS--Greek gambling monopoly OPAP SA (OPAP.AT) Tuesday reported a 16.1% slump in third-quarter net profit from a year earlier, due to lower revenues and increased pay-outs on the Stihima sports betting game, as the Greek economy remains deep ... GREECE: Recession bites for betting giant OPAP |
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 Business Recorder | Greece Is at the Crossroads With the IMF in Tow Huffington Post (blog) Debt-stricken Greece, having just passed an additional and highly controversial austerity package (worth 13.5 billion Euros) through parliament on November 8, is still waiting for the disbursement of the loan tranche of at least 31.5 billion Euros. Your Cheat-Sheet to Greece Greece Adopts Measures to Meet Lenders' Demands Eurozone seeks accord on Greece aid |
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Foreigners who live in the region often have a different take on the issue compared with many Catalans. Here's a selection of their views
Among the many responses I got to my request for Catalan independence views were those of foreigners who live in Catalonia, some of them for many years. They often have a very different take on the question than many Catalans – although not always.
Peter Selman, British: I live in Barcelona, and while I'd support a referendum to allow the Catalans to vote on independence, I'm not entirely sure the economic arguments are sound for the following reasons: Catalonia receives less than one sixth the foreign investment of Madrid; it has the same credit rating as Bangladesh; it has a smaller GDP than Greece; it has the same unemployment levels as Sudan and Gabon; it will face a massive boycott of its products from its main market, Spain; it would probably start independence with over 100% of its GDP in national debt; and it is highly likely the biggest Catalan businesses will leave. Granted, Catalonia's fiscal deficit is a tad unfair, but to me that suggests negotiating a new fiscal deal (similar to the Basque Country) would be a more sensible step in the middle of a massive financial crisis, which would be made far worse if Catalonia gained independence.
Louise Philip, Scottish: I've lived and worked in Catalonia for 15 years, and I now live in a small town called Cubelles south of Barcelona. Many Catalans (including my husband) are the children or grandchildren of immigrants from Andalusia and Extremadura during the Franco regime. They may speak Catalan at work but Spanish at home; many do not want independence as they still have family ties in the rest of Spain. Then there is the question of independence being used as a smoke-screen to distract attention from the real issues in Catalonia - high unemployment (especially among young people), lack of affordable housing, extreme cuts to education and healthcare, and corruption in government. Personally, I can't see independence working, although Catalonia is very different to the rest of Spain. I think they should concentrate on getting Spain back on its feet and deal with the real issues.
Ted Krasny, American: I lived in Barcelona for about 25 years. I speak a fair Catalan, and of course I detest the petty anti-Catalan sentiment one finds around Spain. But there a few points that the whole referendum debate may be skating over. One, the context of economic crisis (which is not to say that the independence movement didn't exist already, but things are just now coming to this head). Two, the CiU party leading this drive is unlikely to do away with the liberalism that has put Catalonia, and Spain, in its current economic straits. Three, there is no doubt that Catalonia has suffered oppression at the hands of Madrid – but who's doing the numbers of what it has gained? Four, what does an independent Catalonia actually mean: how does it translate into greater welfare for its citizens, how does it meet the expectations of the various nationalist currents? I sympathise with certain aspects of Catalan nationalism: language, education, maybe even the right to collect its own taxes. But if everything works out for Artur Mas, we'll have a new European state dominated by a Catholic conservative elite.
Brian Cutts, British: I came from the UK to live in Catalonia in 1988, at the age of 21, and have lived in Tortosa - south Catalonia - ever since. I have always had the feeling from talking to people that the Catalans in general wanted "out" of Spain, and to get back their own freedoms and rights which have been taken away from them over the years. However, the Catalan stereotype is one of a person of extreme caution and common-sense, and this has always held them back from taking the vital step. I believe, also, that the feeling is clearer away from Barcelona – in Tortosa, for example, and other small towns people don't have as many reservations as in the capital. I think that social, cultural, and historical reasons support their bid for independence. Now, of course, economic ones also. I think the president has made a brave decision, but the right one - the time has finally come to ask the people what they want. What is there to fear with a democratic decision?
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 BBC News | European Stocks Little Changed Before Ministers Meet on Greece San Francisco Chronicle 20 (Bloomberg) -- European stocks fluctuated near a one-week high following the biggest gain in two months as euro- area finance ministers prepared to discuss Greece's finances at a meeting in Brussels. Credit Suisse Group AG paced a decline in ... UK Stocks Climb as Euro-Area Ministers Meet on Greece Greece: Eurozone ministers to make crunch decision European Shares Up on Prospect of Cash for Greece |
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 Moneycontrol.com | Greece waits nervously for vital bailout funds Moneycontrol.com Greece waits nervously for vital bailout funds. Euro zone finance ministers are likely to give tentative approval for the next tranche of loans to Greece on Tuesday although the money is unlikely to be disbursed before December and a deal on debt ... |
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 Moneycontrol.com | French Downgrade No Bar to Hollande as Investors Weigh Moody's Bloomberg French President Francois Hollande's government will probably be able to keep borrowing at record-low rates even after Moody's Investors Service's decision to downgrade the nation's debt. The drop in French bonds today put only a small dent in the 9.4 ... EURO GOVT-Bunds fall as Greek aid expectations grow Gallic shrug for Moody's downgrade EFSF Seen Facing Downgrade, Allowing New Bond Sale |
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European Union officials will make a fresh try Tuesday to reach a political accord on desperately needed bailout loans for Greece — an agreement that eluded them last week.
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Moneycontrol.com | EURO GOVT-Bunds fall as Greek aid expectations grow Reuters EU finance ministers seen agreeing to Greek aid tranche. * French bonds under pressure after downgrade. * Moody's strips France of triple-A rating, threatens more. By Emelia Sithole-Matarise. LONDON, Nov 20 (Reuters) - German bond prices fell on ... French Bonds Drop on Moody's Downgrade; Greek Debt Rises French downgrade to give way to Greek debt deal |
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BBC News | UK Stocks Climb as Euro-Area Ministers Meet on Greece Businessweek U.K. stocks climbed, extending yesterday's biggest rally in more than five months, as euro-area finance ministers' met to discuss Greece's bailout and as shareholders approved the $31 billion takeover of Xstrata Plc. (XTA). Xstrata jumped 3.1 percent ... European Stocks Little Changed Before Ministers Meet on Greece Greece: Eurozone ministers to make crunch decision European Shares Up on Prospect of Cash for Greece |
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UPDATE 2-Euro zone likely to reach deal on Greek aid payment Reuters Last Greek reforms needed for final OK. * Payout likely Dec. 5, after Eurogroup meets Dec. 3. * Agreement on Greek debt reduction may require more talks. By Robin Emmott. BRUSSELS, Nov 20 (Reuters) - Euro zone finance ministers are likely to approve ... |
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