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> Economy

German newspaper: ‘Another Greek summer crisis’ ahead

April 22 marked as 'Hedgehog Day' for German officials....on Greek crisis

Newsroom April 13 04:03

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German newspaper ‘Suddeutsche Zeitung’ claims Europe will face another Greek cisis in summer, citing Brussels officials in a piece titled ‘Continual repetition of crisis’. The newspaper warns that the economic conditions in Greece are deteriorating resulting in investors shunning the country. ‘What prospective investor would invest in Greece when they don’t know if the Greek government will suddenly hike taxes the next day because its creditors demand it’, writes the newspaper. In addition to this uncertainty there are the capital controls and the faltering banking system leads to a lack of confidence by Greek depositors. One of the priorities argues the newspaper is the return of investments, a goal failing so far, as the Brussels officials say. The article goes on to outline the interruption of talks between the Greek side and its lenders due to a divergence on cuts worth 5.4bln Euros. Talks are scheduled to resume at the IMF summer meeting in Washington in an effort to strike a deal before the start of the Eurogroup on April 22. Officials in Berlin have already highlighted the date as ‘The Hedgehog day’.

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