ΠΗΓΗ: SÜDDEUTSCHE ZEITUNG
In Athens, the war of nerves over the debt haircut is nearing a finale. The negotiations between private creditors and the government, however, are taking some dangerous stumbles. Before Greece gets €130 billion in aid, it must show some success with its reforms. And that, with all the good will in the world, cannot be achieved.
Every day we see the same images. Men and women in suits and with serious expressions step briskly up to a revolving door, wind their way into an unfamiliar building and disappear into the darkness. The scenes are playing out in Athens, and they show the negotiators from the Institute of International Finance and the Greek government, who are meeting every day to play poker over the terms of the haircut for Greece. As agreed at the EU summit in October 2011, and under pressure from European governments, private banks and hedge funds are voluntarily to waive €100 billion.