Just last year Europe’s politicians set up a euro-rescue organisation that has done very well since then. It began with loans of 110 billion euros for Greece. Then came billions in bailouts for Ireland and Portugal. Now Greece is back in the line-up.

The politicians have flouted the harsh prohibition against solidarity in the EU Treaty [“The Union is not liable for the debts of the central governments.”], claiming that a kind of emergency is afoot. Emergency aid, indeed, is permitted if a country has been swamped by a natural disaster. The fact that Greece’s public debt now stands at almost 150 percent of the gross national product – a situation that was brought about by politicians (i.e. people) – now counts in the EU as a kind of natural destiny.

***Read the full article on the Frankfurter Allgemeine Sonntagszeitung site.***

Greece

Light reshuffle

"The government is relieved," writesTa Neafollowing the negotiations among the majority that led to the reorganisation of the executive led by the Socialist George Papandreou. The sacrifice: his Economy Minister, George Papaconstantinou, singled out as the author of the austerity plan opposed by the protesters who have occupied Syntagma Square, opposite the Parliament, for weeks now. In his place Papandreou appointed the Defence Minister, Evangelos Venizelos, shown at his side in the front page photo onTa Nea. As for Papaconstantinou, he scoops the Ministry of the Environment.