European Debt Crisis

A week of ups and downs for Greece

Kai Ryssdal Jul 12, 2013
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European Debt Crisis

A week of ups and downs for Greece

Kai Ryssdal Jul 12, 2013
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There were all kinds of highs and lows for the belleaguered European nation this past week.

The International Monetary Fund confirmed that billions in bailout funding would be making its way to Greek shores — but that it had to continue its program of austerity, and its outlook was still unknown. Then later in the week, the IMF stated that Greece wouldn’t face a financial gap until August of next year.

At the same time, the government’s TV network — which was shut down a month ago in a cost-cutting measuring — again opened for business, in a stripped-down version of its former self.

This coming week will probably mean more rollercoaster riding, especially with the news that mayors from across Greece plan to suspend municipal services — government offices, garbage collection, those kinds of things — for three days to protest another round of austerity induced layoffs.

Giorgos Christides works for Germany’s Spiegel Online* in Thessaloniki. 

“I don’t think there’s anyone in Greece who thinks our creditors would stop lending,” Christides said. “I don’t think anyone wants a failed state in Europe right now. But still, austerity is very harsh.”


CORRECTION: The original version of this story incorrectly named the news outlet where Giorgos Christides works. The text has been corrected.

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