Debt Crisis

2:03pm

Tue February 28, 2012
The Two-Way

IMF Chief Christine Lagarde: The European Union Is 'A Work In Progress'

International Monetary Fund Managing Director Christine Lagarde.
Chip Somodevilla Getty Images

On tonight's All Things Considered, NPR's Robert Siegel talks to the chief of the International Monetary Fund Christine Lagarde.

Naturally, Robert focused his interview on Greece, which has been engulfed in a debt crisis that has threatened its membership in the European monetary union. Robert asked Lagarde about the tough austerity measures Greece has agreed to and whether those measures could promote a shrinking economy as opposed to getting Greece back to prosperity.

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12:28pm

Tue February 21, 2012
The Two-Way

Greece: So, What Now?

Originally published on Tue February 21, 2012 2:06 pm

Restoration work on the pillars of the Parthenon atop Athens' Acropolis is symbolic of Europe's recent negotiations to save Greece from default.
Oli Scarff Getty Images

Greece is looking more and more like one of those "troubled homeowners" we hear so much about.

It's underwater and struggling to cover debts worth far more than its gross domestic product. So nervous lenders are offering to write down some of those loans in hopes of sending Greece a lifeline and keeping Athens current on its payments.

In return, the country has agreed to put its balance sheet in order, a process that is going to be neither easy nor quick.

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5:10am

Tue February 21, 2012
The Two-Way

Doubts Linger After Late-Night Deal On Bailout For Greece

Originally published on Tue February 21, 2012 7:36 am

Luxembourg Prime Minister and Eurogroup President Jean-Claude Juncker scratches his eyes during a press conference following the meeting of Eurozone nations earlier today in Brussels.
Georges Gobet AFP/Getty Images
  • NPR's Eric Westervelt, reporting on 'Morning Edition'

The top of the news today about the ongoing financial crisis in Europe is that:

"Greece won a second massive financial bailout early Tuesday morning when its partners in the 17-country eurozone finally stitched together a $170 billion rescue, meant to avoid a potentially disastrous default and secure the euro currency." (The Associated Press)

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2:00am

Tue February 21, 2012

2:00am

Tue February 21, 2012
Europe

Bailout Reminds Greek Village Of WWII

Nikos Bouras, 37, stands next to a monument for those massacred by the Nazis on June 10, 1944, that stands atop the highest hill in the Greek town of Distomo.
Joanna Kakissis NPR

Europe is still a continent that looks over its shoulder at a long and sometimes dark past. That extends even to the protracted Greek bailout negotiations, where Germany's dominant role has scratched at some historical wounds.

Germany occupied Greece during World War II, committing atrocities that some older Greeks can't forget. This history defines the pretty village of Distomo in central Greece, where Nazi soldiers killed 218 men, women and children in June 1944.

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