The American media have reported on the recent EU summit and comment that European leaders have won some time to avoid a euro zone disaster.
The New York Times wrote about new Chief of the World Bank, Jim Yong-kim. He stated that “the institution would be open to offering technical assistance to crisis-plagued high-income countries like Greece.”
According to the paper, the bank would act as a consultant, without giving grants or loans. The institution would help the government draft an infrastructure of investment or a poverty reduction plan.
Dr. Kim said that the bank would remain focused on its core goal of eradicating poverty around the world and added that its primary goal is “to make sure that low- and middle-income countries are protected,” noting that the bank has invested more than $300 billion in poorer countries since the global conflagration hit.
Wall Street Journal refers to Greek government’s intention to renegotiate some Memorandum terms and take advantage of the developments on recapitalization of banks by the funds.
Another article reports that Joerg Asmussen, executive board member of the ECB, said “the central bank is open to discussing elements of the Greek austerity and financial-aid package, as long as the key goals of the program remained intact.”
The Washington Post, in regards to Jim Yong-Kim’s statements, stresses the fact that “Greece’s situation is pretty difficult, and the European debt problem threatens countries of middle- and low-income.”
Mr Yong-Kim said that the EU’s instability may influence the financial situation of Eastern countries based on investments and trade with the eurozone as well as China’s industry, Brazil’s agricultural sector and US banks.
Finally, Bloomberg TV broadcast an interview with Harvard professor Kenneth Rogoff who declared that the European monetary union has come pretty close to instability.