Select a language
On the eve of the Greek parliament's vote on an austerity package demanded by the EU and the IMF, Ta Nea devotes its front page to "the French formula for the Greek crisis." Enthusiastically reporting that "the French president has lit the first light at the end of the tunnel," the daily notes that under the terms of the project presented by Nicolas Sarkozy, "French banks would pledge to keep their Greek sovereign bonds for 30 years in order to guarantee the viability of the country. The news has delighted Greek banking circles, which see it as the first step towards a real European solidarity and a respite for Greece."
The plan is as follows, explains Le Figaro: "When Athens reimburses 100 euros to a creditor whose loan is due, the creditor will reinvest 70 euros. Of this amount, 50 euros will once again be lent to Greece for 30 years, and 20 euros will be invested in bonds."
Do you like our work?
Help multilingual European journalism to thrive, without ads or paywalls. Your one-off or regular support will keep our newsroom independent. Thank you!
