Crikey media wrap: Greek politics is in turmoil, with its Prime Minister George Papandreou nixing his plans for a referendum on austerity measures in the latest eurozone bailout plan as he fights to hold his leadership.
Greece
Greek gift of democracy puts Europe back on the brink
Europe is back on the brink of crisis after the Greek government opted to put last week’s bailout deal to the people. Glenn Dyer and Bernard Keane report on the latest developments.
Rundle: crisis, from the Greek, the moment at which a patient lives or dies
The EU bailout of Greece is in fresh crisis today, following the announcement by prime minister Georges Papandreou that the country will go to a referendum on the package.
Guy Rundle: Occupy could lead to the Church turning on its own
Christian groups have announced that they will form a “ring of prayer” around the Occupy London/St Paul’s protest, after church authorities went ahead with a plan to gain a legal injunction against the protest and have it removed.
Financial crisis takes toll on Greece’s health
The creeping consequences of austerity measures in Greece are beginning to show, with the nation facing a sharp increase in suicides and restrictions on access to health care, writes Stephen Leeder.
Is Greece, on fire, signing its default warrant?
Tens of thousands of Greek public servants, students and pensioners hit the streets overnight to protest against the government’s latest austerity measures, as traders continued to bet that a Greek default was imminent.
Rating the threat to a new Greek bailout
Ratings agencies are likely to find themselves under increasing attack after Standard & Poor’s last night warned that plans to corral French and German banks and insurance companies into contributing to the second Greek bailout could push the country into default.
Political snippets: Where’s the jobs boom?
Australian Bureau of Statistics figures out this morning give no indication of the employment boom that some economists are keen to predict will soon fan an inflationary fire.
Austerity or ‘suicide’: no plan B for Greece
Greek policymakers have conceded that they have no plan B if a parliamentary vote for new austerity measures is defeated. A prominent economist has warned that such a vote would be akin to “suicide,” reports Kerin Hope and Ralph Atkins.
Your Say: Daily Mail readers' feedback: Can Labor be saved?
Crikey readers have their say.
Will Greece repeat the tragedy of Argentina?
The Greek economy is struggling to keep afloat, but the European Union decided to delay its next cash injection until July. The NY Times has nine economists weigh in on the crisis and compare it to Argentina economic crash of the early 2000s.
Political snippets: Liberals’ ‘Lemon, Lime and Bitter’ ad a viral success
They must be chuckling at Liberal Party headquarters over the success of their “Lemon, Lime and Bitter” so-called advertisement.
Maley: eurozone fractures are widening
Investors were heartened last night by news that Greek Prime Minister George Papandreou had managed to stave off a revolt from his fellow Socialist deputies. At the same time, however, cracks in the eurozone’s financial system are continuing to widen.
Greece squabbles over austere policies
It’s strange how the financiers preaching pain forget that in a democracy the people who vote will not greet policies that promote unemployment and a savage fall in living standards with enthusiasm, writes Richard Farmer.
Political snippets: Better housing news but trend still down.
An encouraging sign in the official Australian Bureau of Statistics figures for April.
Political snippets: Property prices keep edging down
Australian house prices are continuing to edge down according to the latest figures from the RP Data-Rismark Home Value Index.
Political snippets: Worrying about Europe’s debt woes
When the Wall Street Journal starts worrying about how to keep Europe’s debt crisis from spiraling out of control the rest of us should be at least a little uneasy.
Just a little Greek accounting error
Eurostat, the statistical arm of the European Union, has just come up with revised figures for the Greek government’s budget deficit and debt. the deficit for 2009 has been increased from 13.6% of GDP to 15.4% with total debt now put at 126.8% of GDP, says Richard Farmer.
Political snippets: Always intrested by Australia’s place in the world
I admit to being a bit of a sucker for lists — the best of this, the worst of that. I’m just intrigued to see how, for example, other people rate Australia in the hierarchy of the world’s nations.
Greek economic recession stopping at all stations
To add to Greece’s mounting woes the debt accumulated by its national railway system now counts towards official debt figures. There is increasing pressure to shut down the majority of the Hellenic Railways system, which accrues loses of around US$3.8 million a day.
Save Greece, buy an island
Fancy your own island home? Greece is flogging off 6,000 of its islands to help repay its mammoth debt issues, either by private sale or long-term lease.
Save Greece, sell off its assets
The IMF was mad to bailout Greece, because it simply delays default and puts Greece in more debt. Much of Greek industry is nationalised, so open the economy to the private sector and watch it grow, says Allan Meltzer.
How can a small country bring down the global economy?
Greece isn’t a large nation but its financial failures have caused shock waves throughout the world. Why? An economist, a historian and a financial analyst answer some of the big questions about the European crisis.
PHOTO GALLERY: Greece goes to the dogs, literally
Doggone it, meet the puppy protester who attended all the Greek riots, barking at police and sitting obediently with rioters. A local explains the story of the stray dog named after sausages.
Where there are two Greeks, there are three opinions
Greeks — particularly the young — are angry, disappointed and tired of the corruption by their government. Gillian Bouras reports from Athens about a nation who still thinks Germany owes it from the war.
