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

“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.”