German press calls for expulsion of Greece from Eurozone

A portion of the German press is openly calling for the expulsion of Greece from the common European currency area, following Monday’s Eurogroup meeting, which decided to release a part of the 2.8bln-Euro sub-tranche to the crisis-stricken country and the uncertainty of whether the IMF will continue to support the bailout program. “Die Welt” writes that the departure of the IMF could kick off an ‘honest discussion’ regarding a generous debt relief for Greece, with a concurrent departure of the country from the monetary union. The newspaper notes that the threat by the Fund to abandon the Greek bailout program places the German government in a tough spot, as it gained the parliament’s support on the condition that the IMF would be aprt of the program. The title of financial newspaper “Handelsblatt” reads “Fresh money, old squabbles” commenting on the part-release of the 2.8blb-Euro sub-tranche. On its part, “Der Telegraph” uses a more optimistic title: “The Commission sees progress in Greece”. The article highlights, however, that despite the release of part of the cash, the problem with the country still remains as its growth rates are extremely slow.