<br><div><br></div><div><span class="Apple-style-span" style="border-collapse: collapse; font-family: Arial, Helvetica, sans-serif; font-size: 15px; line-height: 19px; "><h2>Europe</h2><p><strong>Second Greek bail-out could reach €120bn;<br>
Barroso: Greek crisis could put Ireland’s return to the markets in 2012 at risk</strong><br><em><br></em></p><p><em>Reuters </em>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, <em>FAZ</em> 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.</p>
<p><em>Bild</em> 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, <em>Reuters</em> 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. <em>Handelsblatt</em> 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.</p>
<p>Meanwhile, an article in the <em>Irish Times</em> 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. <em>Il Sole 24 Ore</em> 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.</p>
<p>Trichet also signalled that the ECB could raise interest rates next month. Meanwhile, <em>Le Monde</em> 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.<a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85f/2469711891/VEsH/" title="http://www.irishtimes.com/newspaper/finance/2011/0608/1224298574283.html" target="_blank" style="color: rgb(87, 151, 176); "><br>
Irish Times</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85c/2469711891/VEsE/" title="http://euobserver.com/9/32471" target="_blank" style="color: rgb(87, 151, 176); ">EUobserver</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85d/2469711891/VEsF/" title="http://euobserver.com/9/32467" target="_blank" style="color: rgb(87, 151, 176); ">EUobserver 2</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e852/2469711891/VEsC/" title="http://www.nytimes.com/2011/06/10/business/global/10rates.html?scp=1&sq=ecb%20seen%20raising%20rates&st=cse" target="_blank" style="color: rgb(87, 151, 176); ">IHT</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e853/2469711891/VEsD/" title="http://www.irishtimes.com/newspaper/frontpage/2011/0610/1224298692434.html" target="_blank" style="color: rgb(87, 151, 176); ">Irish Times</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e850/2469711891/VEsA/" title="http://www.ftd.de/politik/europa/:drohende-staatspleite-athener-regierung-billigt-drastisches-sparprogramm/60063561.html" target="_blank" style="color: rgb(87, 151, 176); ">FTD</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e851/2469711891/VEsB/" title="http://www.ftd.de/politik/europa/:geld-fuer-hellas-griechen-hilfe-besteht-testabstimmung/60063609.html" target="_blank" style="color: rgb(87, 151, 176); ">FTD 2</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e856/2469711891/VEsO/" title="http://www.zeit.de/politik/deutschland/2011-06/Bundestag-Griechenland-Regierung" target="_blank" style="color: rgb(87, 151, 176); ">Zeit</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e857/2469711891/VEsP/" title="http://www.thetimes.co.uk/tto/business/economics/article3057468.ece" target="_blank" style="color: rgb(87, 151, 176); ">Times</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e854/2469711891/VEsHBQ/" title="http://online.wsj.com/article/SB40001424052702304259304576375181283023852.html#mod=todays_europe_front_section" target="_blank" style="color: rgb(87, 151, 176); ">WSJ</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e855/2469711891/VEsHBA/" title="http://online.wsj.com/article/SB40001424052702304778304576375661297231754.html#mod=todays_europe_front_section" target="_blank" style="color: rgb(87, 151, 176); ">WSJ 2</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86a/2469711891/VEsHBw/" title="http://online.wsj.com/article/SB40001424052702304778304576375641718831946.html#mod=todays_europe_front_section" target="_blank" style="color: rgb(87, 151, 176); ">WSJ 3</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86b/2469711891/VEsHBg/" title="http://www.independent.ie/national-news/double-blow-as-income-tax-and-rate-hikes-loom-2671050.html" target="_blank" style="color: rgb(87, 151, 176); ">Irish Independent</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e868/2469711891/VEsHAQ/" title="http://www.independent.ie/business/european/ecb-president-is-confident-we-can-avoid-greeces-fate-2670998.html" target="_blank" style="color: rgb(87, 151, 176); ">Irish Independent 2</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e869/2469711891/VEsHAA/" title="http://www.bbc.co.uk/news/business-13713283" target="_blank" style="color: rgb(87, 151, 176); ">BBC</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86e/2469711891/VEsHAw/" title="http://www.latribune.fr/actualites/economie/international/20110525trib000624177/la-bce-envisage-une-nouvelle-hausse-des-taux-l-ocde-la-reclame.html" target="_blank" style="color: rgb(87, 151, 176); ">La Tribune</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86f/2469711891/VEsHAg/" title="http://www.lesechos.fr/economie-politique/monde/actu/afp_00351131-aide-a-la-grece-mise-en-place-d-un-groupe-de-travail-au-sein-de-l-eurogroupe-174980.php" target="_blank" style="color: rgb(87, 151, 176); ">Les Echos</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86c/2469711891/VEsHDQ/" title="http://www.lesechos.fr/economie-politique/monde/actu/afp_00351004-aide-a-la-grece-la-cour-constitutionnelle-allemande-procedera-a-des-auditions-le-5-juillet-174646.php" target="_blank" style="color: rgb(87, 151, 176); ">Les Echos 2</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86d/2469711891/VEsHDA/" title="http://www.lesechos.fr/economie-politique/monde/actu/reuters_00350932-le-nouveau-plan-d-aide-a-la-grece-avoisinerait-120-milliards-d-euros-174551.php" target="_blank" style="color: rgb(87, 151, 176); ">Les Echos 3</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e862/2469711891/VEsEBQ/" title="http://www.lemonde.fr/economie/article/2011/06/09/de-nouvelles-mesures-de-rigueur-approuvees-en-grece_1534275_3234.html" target="_blank" style="color: rgb(87, 151, 176); ">Le Monde</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e863/2469711891/VEsEBA/" title="http://www.ilsole24ore.com/art/economia/2011-06-09/riforma-fiscale-manovra-prima-222414.shtml?uuid=AaZ9OYeD" target="_blank" style="color: rgb(87, 151, 176); ">Il Sole 24 Ore</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e860/2469711891/VEsEBw/" title="http://www.guardian.co.uk/business/2011/jun/09/greek-debt-crisis-restructuring-trichet" target="_blank" style="color: rgb(87, 151, 176); ">Guardian</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e861/2469711891/VEsEBg/" title="http://www.ft.com/cms/s/0/30ba89de-92dd-11e0-9ba7-00144feab49a.html#axzz1OfdhYPCP" target="_blank" style="color: rgb(87, 151, 176); ">FT</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e866/2469711891/VEsEAQ/" title="http://www.ft.com/cms/s/0/82357abe-92c2-11e0-bd88-00144feab49a.html#axzz1OfdhYPCP" target="_blank" style="color: rgb(87, 151, 176); ">FT 2</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e867/2469711891/VEsEAA/" title="http://www.ft.com/cms/s/0/96a96fc4-92c1-11e0-bd88-00144feab49a.html#axzz1OfdhYPCP" target="_blank" style="color: rgb(87, 151, 176); ">FT 3</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e864/2469711891/VEsEAw/" title="http://www.ft.com/cms/s/0/9b659bd6-9277-11e0-96e0-00144feab49a.html#axzz1OfdhYPCP" target="_blank" style="color: rgb(87, 151, 176); ">FT 4</a><a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e865/2469711891/VEsEAg/" title="http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_10940_09/06/2011_394204
blocked::http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_10940_09/06/2011_394204" target="_blank" style="color: rgb(87, 151, 176); ">Kathimerini</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87a/2469711891/VEsEDQ/" title="http://www.elpais.com/articulo/economia/Trichet/apunta/BCE/volvera/subir/tipos/interes/julio/elpepueco/20110609elpepueco_7/Tes" target="_blank" style="color: rgb(87, 151, 176); ">El País</a><a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87b/2469711891/VEsEDA/" title="http://www.reuters.com/article/2011/06/10/us-eurozone-idUSLDE7581Z820110610" target="_blank" style="color: rgb(87, 151, 176); ">Reuters</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e878/2469711891/VEsFBQ/" title="http://www.wirtschaftspresse.biz/psepp/fn/pcc/sfn/showedetail/DocID/1187888/EditionID/4/SectionID/10/PageID/1187885/pDay/10.06.2011%2000:00:00/showtyp/1/SH/47c20312da52fb9d4d98cdff286c96/index.html" target="_blank" style="color: rgb(87, 151, 176); ">Handelsblatt</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e879/2469711891/VEsFBA/" title="http://www.ftd.de/politik/deutschland/:euro-krise-koalition-legt-merkel-bei-griechen-hilfe-an-die-leine/60063591.html" target="_blank" style="color: rgb(87, 151, 176); ">FTD</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87e/2469711891/VEsFBw/" title="http://www.bild.de/politik/inland/griechenland-krise/streit-um-griechenland-rettungspaket-18307416.bild.html" target="_blank" style="color: rgb(87, 151, 176); ">Bild</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87f/2469711891/VEsFBg/" title="http://www.faz.net/p/Rub6C77E50CFDFD44AF94BA0EA12FECC2AD/Dx1~EEB3C7B1D26BA5BF198ADBB49F8B9FFB5~ATpl~Ecommon~Scontent.html
blocked::http://www.faz.net/p/Rub6C77E50CFDFD44AF94BA0EA12FECC2AD/Dx1~EEB3C7B1D26BA5BF198ADBB49F8B9FFB5~ATpl~Ecommon~Scontent.html
ht" target="_blank" style="color: rgb(87, 151, 176); ">FAZ</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87c/2469711891/VEsFAQ/" title="http://www.economist.com/node/18805433?story_id=18805433" target="_blank" style="color: rgb(87, 151, 176); ">Economist: Leader</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e87d/2469711891/VEsFAA/" title="http://www.economist.com/node/18805263?story_id=18805263&fsrc=rss" target="_blank" style="color: rgb(87, 151, 176); ">Economist: Charlemagne</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e872/2469711891/VEsFAw/" title="http://online.wsj.com/article/SB40001424052702304259304576375590770135026.html#mod=todays_europe_front_section" target="_blank" style="color: rgb(87, 151, 176); ">WSJ: Mattich</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e873/2469711891/VEsFAg/" title="http://krugman.blogs.nytimes.com/2011/06/09/the-penalty-for-default-the-payoff-to-austerity/" target="_blank" style="color: rgb(87, 151, 176); ">Paul Krugman</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e870/2469711891/VEsFDQ/" title="http://www.irisheconomy.ie/index.php/2011/06/09/a-better-friend-than-we-know/" target="_blank" style="color: rgb(87, 151, 176); ">Icelandic Review Irish Economy Blog</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e85f/2469711891/VEsFDA/" title="http://www.irishtimes.com/newspaper/finance/2011/0608/1224298574283.html
blocked::http://www.irishtimes.com/newspaper/finance/2011/0608/1224298574283.html" target="_blank" style="color: rgb(87, 151, 176); ">Irish Times</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e871/2469711891/VEsCBQ/" target="_blank" style="color: rgb(87, 151, 176); ">Expresso: Raposo</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e876/2469711891/VEsCBA/" title="http://online.wsj.com/article/SB40001424052702304259304576375760281096344.html#mod=todays_europe_" target="_blank" style="color: rgb(87, 151, 176); ">WSJ: Nixon</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e877/2469711891/VEsCBw/" title="http://online.wsj.com/article/SB40001424052702304778304576375620604066778.html#mod=todays_europe_front_section" target="_blank" style="color: rgb(87, 151, 176); ">WSJ: Forelle</a></p>
<p><strong>In an article looking at the financial risk that the ECB has taken on during the eurozone crisis, the <em>Economist</em>cites 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 <em>HNonline</em>.<br>
</strong><a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e874/2469711891/VEsCBg/" title="http://action.openeurope.org.uk/page/m/4b660f74/1ba89fd9/81424eb/7c55e824/367428516/VEsCBg/
http://www.openeurope.org.uk/research/ecbandtheeuro.pdf" target="_blank" style="color: rgb(87, 151, 176); ">Open Europe research</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e875/2469711891/VEsCAQ/" title="http://action.openeurope.org.uk/page/m/4b660f74/1ba89fd9/81424eb/7c55e825/367428516/VEsCAQ/
http://www.openeurope.org.uk/media-centre/pressrelease.aspx?pressreleaseid=168" target="_blank" style="color: rgb(87, 151, 176); ">Open Europe press release</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb8a/2469711891/VEsCAA/" title="http://www.economist.com/node/18803412?story_id=18803412&fsrc=rss" target="_blank" style="color: rgb(87, 151, 176); ">Economist</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb8b/2469711891/VEsCAw/" title="http://finweb.hnonline.sk/c3-52056220-kP0000_d-hororovy-sen-ecb-sa-vola-grecko-span-class-koment-komentar-span" target="_blank" style="color: rgb(87, 151, 176); ">HNonline.sk</a></p>
<p><strong><em>FAZ </em></strong><strong>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 <em>Reuters</em>.</strong><a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb88/2469711891/VEsCAg/" title="http://www.faz.net/artikel/S31147/bundesverfassungsgericht-karlsruhe-verhandelt-ueber-klage-gegen-eu-rettungsschirm-30435907.html" target="_blank" style="color: rgb(87, 151, 176); "><br>
FAZ</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55eb89/2469711891/VEsCDQ/" title="http://www.reuters.com/article/2011/06/09/eurozone-germany-idUSLDE7581ZN20110609" target="_blank" style="color: rgb(87, 151, 176); ">Reuters</a> <a href="http://action.openeurope.org.uk/page/m/4b660f75/1ba8ae93/81438cb/7c55e86c/2469711891/VEsCDA/" title="http://www.lesechos.fr/economie-politique/monde/actu/afp_00351004-aide-a-la-grece-la-cour-constitutionnelle-allemande-procedera-a-des-auditions-le-5-juillet-174646.php" target="_blank" style="color: rgb(87, 151, 176); ">Les Echos</a></p>
<p>.."</p><p>... hoelang gaat het nog goed/door met de EU? </p><p>Henk Elegeert</p><p><br></p><p><br></p><p><br></p></span></div>