Monday, February 20, 2012

Three Greek critics yet to ratify bailout

Guardian
February 20, 2012

Parliaments in three of the most hardline critics of Greece's second bailout have yet to approve the €130bn (£110bn) package.

Deputies in triple A-rated Germany, the Netherlands and Finland will have to give the final package their approval, with the finance ministry in Helsinki suggesting this may not now occur until 12 March – a week before Greece must repay €14.4bn of its €340bn debts.

The Bundestag is slated to debate the package on 27 February, though this may slip because of delays in completing its final details, and is certain to approve it despite louder and louder complaints about Greek "fecklessness".

"There's been a complete breakdown of trust between Germans and Greeks,"

one European diplomat said. "The atmosphere has got extremely nasty, with all this talk of sending in the controllers."

Among those most loudly condemning Greece and demanding it default and/or exit the euro have been members of Angela Merkel's ruling majority – especially from the eurosceptic Bavarian Christian Social Union wing.

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