The talks about Greece have once again drawn the attention of foreign media reports, especially after the May 11 Eurozone Finance Ministers meeting.
BBC published an article focusing on Greek Finance Minister Yanis Varoufakis’ warning that the country’s liquidity is sufficient for just two weeks. “Greece began the transfer of 750 million euros in debt interest to the International Monetary Fund – a day ahead of α payment deadline,” noted the article, adding that the Greek government is struggling to meet its payment obligations.
As expected, the Eurogroup did not reach a final agreement or decision regarding the bailout program, however, there was a particularly important development in another field, according to The Guardian. “Germany, in the form of Finance Minister Wolfgang Schaeuble, suddenly seems taken by the idea of Greece holding a referendum,” noted The Guardian.
Furthermore, the Economist described the Greek government’s attempts to cover the country’s payment obligations as a Herculean labor, noting that by the end of August, the government will have to find another 2 billion euros in order to pay the IMF installments, as well as 6.7 billion for the European Central Bank (ECB).
French newspaper Liberation published an article focusing on the fact that Greece is in danger of running out of cash in two weeks.
The IMF wants to steer clear of Greece’s future bailout programs, wrote Spanish newspaper El Mundo, noting that the Fund has shown Europeans it does not wish to participate in the plans for a third aid package.
German magazine Der Spiegel noted that Greece will soon run out of money and yet the Eurogroup discussions about the country are moving at a very slow pace. Meanwhile, Die Welt added that the institutions are worried that Greece will not be able to meet its financial obligations.
Die Zeit reported that the country’s creditors are pressuring Greece to successfully complete the second aid program before providing more financial support, while Handelsblatt pointed out that although there was no agreement during the Eurogroup, Athens was consistent in paying the IMF installment.
Finally, Frankfurter Allgemeine Zeitung wondered whether a referendum would be the solution for the Greek crisis, adding that Schaeuble appears to be leaning toward this plan.
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