- Join the France 24 community here
- Log in
Latest update: 20/06/2011
- Brazil - drug trafficking - eurozone - Greece - Russia
Let the Greeks go it alone
In Monday's international papers - Greece is still making headlines, with London's ever controversial mayor urging a default, police move in to Brazil's favelas, and 30,000 people are kicked off a dating site - for not being hot enough.
By Elena CASAS
The International Herald Tribune says it's Angela Merkel who comes off worst from the Greek crisis - while London mayor Boris Johnson tells the Telegraph Greece should just default and have done with it.
Brazilian paper O Globo says not all favela dwellers are happy with the army's cleansing operation.
The New York Times looks at Russian students trying to boost the reputation of legendary dissident couple Andrei Sakharov and Elena Bonner.
And the Guardian looks at a dating site that's thrown out 30,000 paying clients - because they're not good looking enough.
Comments (1)
Greek debt.
by Anonyme - 20/06/2011 - 17:07
Taking the Greek indebtedness at €350-billion, and applying Basel 2, the impact of Greek indebtedness exceeds the annual GDP of the US. Greece could default, but they would have to forego their pensions, all government spending, and face no employment at home and abroad. Returning to the Drachma to run a policy of devaluation is a temporary fix, until Greeks have to import raw materials at a now higher price in Drachma. The only remedy is to raise productivity and diversify the Greek economy.
Boris Johnson's advocacy of a Greek exit from the €uro, is cynically predicated on having the UK avoid a contribution to a new Greek bailout and hoping that the fallout from a Greek default, is shouldered by Germany and France. Furthermore, there is no parallel between Greece as a Eurozone participant, and south America's pegging of currency, to the US-Dollar.
Post new comment
Related Content
‘Darth Vader’ demands free land from Ukrainian government
Browse all editions
FRANCE 24 PARTNERS
