‘The dwarf has been saved, but the giant is trembling’

Published on 26 March 2013 at 10:32

Cover

“EU finance ministers have approved a multi-billion euro bailout, while the island is to cut a slice from bank deposits of more than €100,000,” writes the daily in its report on the Eurogroup plan adopted on March 25.
However, the newspaper also notes that “the single currency can only look forward to a brief respite. In the long term, the euro will suffer from a fundamental lack of confidence.”
In its editorial, Die Tageszeitung argues that “monetary union is now a thing of the past.” Given that deposits in countries in difficulty are no longer as secure as they are in Germany or the Netherlands, we have reached a point where “there is one official euro, but in practice, there are 17 different euros.”

Tags

Was this article useful? If so we are delighted!

It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.

Discover our subscription offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic