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> Economy

German media: Greece could default in 2 weeks

Money and time running out for Athens

Newsroom April 30 10:05

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German media is focusing on the Greek crisis, predicting that it could eventually lead to the country defaulting. In its headline article, ‘Westdeutsche Allgemeine Zeitung’ uses a the title “Bankruptcy looms in 4 weeks: the Greek crisis returns’. The article notes that the EU has to intervene once more to prevent the threat of the country failing. The report says the talks between Greece and its lenders have reached an impasse over a new package of measures, adding that if a deal is not struck then Greece will run out of money in two weeks. The question the author poses is whether the EU should give the country a new lifeline and release new funds to Athens? The May 9 Eurogroup will attempt to break the deadlock in negotiations. As ‘Frankfurter Allgemenie Zeitung’ writes the point of contention still remains the extra €3.6bln contingency measures demanded by the creditors to complete the first review of the Greek program.

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