- Illustration by Manos Symeonakis
Every year, Greece celebrates its independence on March 25. It marks the date when the revolution against Ottoman rule began in 1821. This March 25, though, the proposition of Greece standing on its own will not seem so attractive. Should the European Union leaders’ summit on March 24-25 end in disappointment — as many expect it to — debt-stricken Greece will be left dangerously isolated.
Prime Minister George Papandreou has spent the last few weeks furiously trying to cultivate contacts with his European counterparts — including German Chancellor Angela Merkel, French President Nicolas Sarkozy and European Council President Herman Van Rompuy — in the hope they might be able to sway opinions ahead of the March 25 summit and a meeting of leaders from eurozone countries on Friday, March 11.
Posted in Economy, European Union, Greece
Tagged Angela Merkel, Axel Weber, Bruegel, EEAG, EFSF, ESM, EU leaders' summit, euro, European Economic Advisory Group, European Financial Stability Facility, European Stability Mechanism, European Union, eurozone, George Papandreou, Giorgos Papaconstantinou, Greece debt, Greece debt restructuring, Greece default, Greece deficit, Greece interest rate loan, Greece March 25, Greek bonds, Greek bonds haircut, Herman van Rompuy, IMF, International Monetary Fund, Nicolas Sarkozy, Sovereign debt crisis