Athens between Scylla and Charybdis

Published on 8 April 2010 at 11:43
La Tribune, 8 April 2010


"Greece is again under pressure barely two weeks after the plan to rescue the country's finances was approved in Brussels," writes La Tribune. The French financial daily reports that several rumours claiming that Greece's deficit actually amounts to 14% of GDP instead of 12.9% have been circulating, unsettling financial markets and raising the risk premium on Greek debt. "Greece reportedly no longer wants IMF assistance, considered to be too constraining, and is looking for financing denominated in US dollars rather than euros," the paper says. "Supposedly Greece is ready to jump into the arms of the Chinese." Two days before the April 7 arrival in Athens of an International Monetary Fund delegation to provide technical assistance, Greek Prime Minister Georges Papandreou found himself having to reassure the markets, reaffirming that his country would not seek help from this quarter. His remarks were echoed by European Council President Herman Van Rompuy, who denounced the rumours as "malicious". On April 7, however, several European deputies expressed serious doubts about the viability of the bailout package approved at the end of March, La Tribune writes.

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