[D66] Second Greek bail-out could reach €120bn;

[Henk Elegeert]

Europe

*Second Greek bail-out could reach €120bn;
Barroso: Greek crisis could put Ireland’s return to the markets in 2012 at
risk*
*
*

*Reuters *reports that, according to several eurozone sources, the second
bail-out package for Greece could reach €120bn. The EU and the IMF would
contribute €60bn, with €30bn coming from the sale of Greek government assets
and €30bn provided through an extension of Greek debt held by private
investors. However, *FAZ* quotes eurozone sources saying EU finance
ministers may not be able to reach a decision on the second Greek bail-out
when they meet in Brussels on 20 June.

*Bild* notes that a battle is going on within the German ruling coalition,
as a growing number of MPs are questioning if Germany should take part in a
second Greek bail-out. However, *Reuters* reports that the German Bundestag
has today endorsed a non-binding resolution backing additional aid for
Greece, which was presented by MPs from German Chancellor Angela Merkel’s
CDU, the CSU and the FDP. *Handelsblatt* cites a study by the Institut für
Weltwirtschaft claiming that the eurozone debt crisis has torpedoed the
German government’s plans to reduce Germany’s public debt, due to the cost
of the eurozone bail-outs.

Meanwhile, an article in the *Irish Times* reports that European Commission
President José Manuel Barroso has said that the Greek crisis presents
“risks” to Ireland’s return to the debt markets next year, as foreseen in
the Irish bail-out programme. *Il Sole 24 Ore* reports that Italian Prime
Minister Silvio Berlusconi and Italian Economy Minister Giulio Tremonti have
reached an agreement on a new €45bn austerity plan, with €40bn cuts
envisaged for 2013-2014.

Trichet also signalled that the ECB could raise interest rates next month.
Meanwhile, *Le Monde* reports that yesterday the Greek government signed off
on a new austerity package envisaging cuts worth €28.4bn until 2015, of
which €6.4bn is to be finalised by the end of the year. A vote in the Greek
parliament is expected by the end of June.
Irish Times<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85f/2469711891/VEsH/>
 EUobserver<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85c/2469711891/VEsE/>
 EUobserver 2<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85d/2469711891/VEsF/>
 IHT<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e852/2469711891/VEsC/>
 Irish Times<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e853/2469711891/VEsD/>
 FTD<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e850/2469711891/VEsA/>
 FTD 2<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e851/2469711891/VEsB/>
 Zeit<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e856/2469711891/VEsO/>
 Times<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e857/2469711891/VEsP/>
 WSJ<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e854/2469711891/VEsHBQ/>
 WSJ 2<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e855/2469711891/VEsHBA/>
 WSJ 3<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86a/2469711891/VEsHBw/>
 Irish Independent<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86b/2469711891/VEsHBg/>
 Irish Independent
2<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e868/2469711891/VEsHAQ/>
 BBC<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e869/2469711891/VEsHAA/>
 La Tribune<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86e/2469711891/VEsHAw/>
 Les Echos<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86f/2469711891/VEsHAg/>
 Les Echos 2<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86c/2469711891/VEsHDQ/>
 Les Echos 3<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86d/2469711891/VEsHDA/>
 Le Monde<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e862/2469711891/VEsEBQ/>
 Il Sole 24 Ore<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e863/2469711891/VEsEBA/>
 Guardian<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e860/2469711891/VEsEBw/>
 FT<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e861/2469711891/VEsEBg/>
 FT 2<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e866/2469711891/VEsEAQ/>
 FT 3<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e867/2469711891/VEsEAA/>
 FT 4<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e864/2469711891/VEsEAw/>
Kathimerini<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e865/2469711891/VEsEAg/>
 El País<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87a/2469711891/VEsEDQ/>
Reuters<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87b/2469711891/VEsEDA/>
 Handelsblatt<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e878/2469711891/VEsFBQ/>
 FTD<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e879/2469711891/VEsFBA/>
 Bild<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87e/2469711891/VEsFBw/>
 FAZ<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87f/2469711891/VEsFBg/>
 Economist: Leader<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87c/2469711891/VEsFAQ/>
 Economist: Charlemagne<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87d/2469711891/VEsFAA/>
 WSJ: Mattich<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e872/2469711891/VEsFAw/>
 Paul Krugman<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e873/2469711891/VEsFAg/>
 Icelandic Review Irish Economy
Blog<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e870/2469711891/VEsFDQ/>
 Irish Times<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85f/2469711891/VEsFDA/>
 Expresso: Raposo<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e871/2469711891/VEsCBQ/>
 WSJ: Nixon<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e876/2469711891/VEsCBA/>
 WSJ: Forelle<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e877/2469711891/VEsCBw/>

*In an article looking at the financial risk that the ECB has taken on
during the eurozone crisis, the Economistcites Open Europe’s briefing on the
ECB’s exposure published this week. The article quotes Open Europe warning
of the ECB’s “potentially huge” risk to taxpayers “buried in the ECB’s
books”. The report also features on Slovakian financial daily HNonline.
*Open Europe research<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e874/2469711891/VEsCBg/>
 Open Europe press
release<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e875/2469711891/VEsCAQ/>
 Economist<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb8a/2469711891/VEsCAA/>
 HNonline.sk<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb8b/2469711891/VEsCAw/>

*FAZ **reports that the German Constitutional Court will start its
proceedings on the lawsuit filed by a group of five German economists
challenging the legality of the eurozone bail-outs on 5 July. The Court did
not provide any information about when the verdict may be announced,
reports Reuters.*
FAZ<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb88/2469711891/VEsCAg/>
 Reuters<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb89/2469711891/VEsCDQ/>
 Les Echos<http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86c/2469711891/VEsCDA/>

.."

... hoelang gaat het nog goed/door met de EU?

Henk Elegeert
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