European press sees Greece on verge of euro exit

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European Newspaper Front Pages
Image caption,

"Tsipras's Gamble" says French newspaper La Croix

European press headlines are full of foreboding, with Italy's La Stampa seeing Greece "on the edge of the precipice" and Aujourd'hui en France, external fearing a "shipwreck", while Spain's El Pais fears Greece is "sinking into financial chaos".

Some papers worry that Greece may drag other eurozone countries down with it.

'Myth of treachery'

Several commentators accuse Greek Prime Minister Alexis Tsipras of bringing the crisis upon himself.

France's centre-left Liberation complains that he is being "irresponsible, external", but calls on Europe to avoid Grexit "at all costs".

This is because it could lead to something worse - "the slide out of the European Union of a country whose geo-strategic importance is greater than ever", given its proximity to the Middle East.

Germany's Die Welt writes that Mr Tsipras appears to have always considered Grexit possible, even desirable, allowing him to create a "myth of treachery against the Greek people, external" and stay in power despite national bankruptcy.

In Italy, La Stampa rails at "Tsipras's impossible world, external".

It blames the creditors for "rigidly applying the usual one-sided policies to Greece", but fears that the "windbag" Tsipras is threatening the rest of the eurozone with a "journey into the unknown" over "repercussions for growth, which in Italy always has a weak start".

Image source, Getty Images
Image caption,

Anti-EU activists protested outside Greek parliament on Sunday

'Argentine-style crash'

Many papers are concerned about these possible repercussions, as well as those further afield.

Spain's El Pais warns of an "Argentine-style crash unless Tsipras loses the referendum, external", and worries about the fallout on eurozone confidence and the "turbulent banking systems of its Balkan neighbours".

Italy's La Repubblica sees the "European Commission divided amid Greek chaos, external", and fears that the "dramatic situation has brought Greece to its knees and threatens to scuttle the entire eurozone".

But Germany's Frankfurter Allgemeine Zeitung wonders whether Greece has effectively done eurozone countries a favour by ending talks that "could have led to their own declaration of bankruptcy, external". Its economics editor adds that the EU goal must now be "damage limitation".

'Had it coming'

There is considerable sympathy for the plight of ordinary Greeks, and some criticism of the country's creditors.

Germany's Spiegel magazine says the Euro Group "had it coming, external", as they have been "avoiding painful decisions for the past five years", especially a larger write-down of Greece's debt.

Portugal's Publico surveys opinion in "anxious, external" Greek bank queues, where the consensus is that creditors are treating the country with undue severity, with complaints of a "Protestant mentality" and blackmail.

A commentary in the Cypriot paper O Fileleutheros thinks the Greek government has a point, as any agreement needs a "social perspective, external" as well as an economic one. But it concludes gloomily that "at this crucial point, Greece unfortunately cannot convince its creditors easily".

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