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Foreign Media Reports On Eurogroup's 'Shipwreck' Meeting

paul-krugmanForeign media rushed to cover the February 16 Eurogroup meeting which ended with no deal between Greece and its European partners. The Wall Street Journal wrote about a “talks break down amid deep divisions over bailout,” while the Guardian noted that Greece is flirting with the Grexit idea.
Nobel laureate economist Paul Krugman wrote an article for the New York Times, entitled “Atenae delenda est” (Athens should be destroyed). “There was absolutely no way Tsipras and company could sign on to such a statement, which makes you wonder what the Eurogroup ministers think they’re doing,” he noted, adding “I guess it’s possible that they’re just fools — that they don’t understand that Greece 2015 is not Ireland 2010, and that this kind of bullying won’t work.”
Krugman also noted that the European partners appear to be pushing Greece over the edge, while he concludes that the lack of wisdom is “astonishing and appalling.”
Furthermore, German newspaper Der Spiegel noted that the Eurogroup is asking Greece to “take it or leave it.” The meeting was very uncomfortable. Varoufakis caused an upheaval when he said that the Greek SYRIZA government would abandon the costly electoral promises in exchange for the guarantee of liquidity to Greek banks by the European Central Bank. “Do we need to reward them because they don’t want to do something bad?” asked of the meeting participants, according to the German newspaper.
Meanwhile, the Wall Street Journal noted that the talks between Eurozone’s finance ministers about Greece’s situation ended abruptly “demonstrating a wide gulf between Athens and its European creditors and triggering a new, heightened state of uncertainty about the country’s future inside the currency bloc.” According to the article, this was the result of Greece’s refusal to request an extension of the bailout program that is set to end by the end of February.
British newspaper the Guardian wrote: “Analysts warned that the risks of Greece leaving the euro were growing, and that the crisis could be triggered if the European Central Bank decided that the lack of progress required it to suspend financial support.”

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