Tagged: Greece

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.

European finance ministers are expected to vote on the latest $171 billion bailout package for Greece Monday. The package needs to be approved so Greece can make payments on bonds that come due a month from now. Even if the bailout is approved, it is likely to be only a temporary solution to Greece's troubles.

Across the Atlantic in New York, Hans Humes likes to ride his bike from his home in Brooklyn to his office at Greylock Capital Management in Manhattan. On a recent morning he showed up for our interview still carrying his bike helmet.

The European Union says Greece has made some progress, but not enough, to merit the new bailout it desperately needs to avoid default and keep the euro as its currency.

Greeks are increasingly bitter about the austerity measures the EU is imposing on them. And Greece's EU partners are losing trust that the Greeks will implement them.

Now, talk is growing about contingency planning if Greece fails to meet the bailout conditions and defaults.

NPR's Eric Westervelt scored an interview with Dutch Finance Minister Jan Kees de Jager. And Eric reports that he did not mince words.

The Netherlands and Germany, which have AAA credit ratings, hold great sway in whether Greece will receive a $170 million bailout from the European Union and the IMF. Without it, Greece would default on its debt and would almost certainly exit the monetary union. Eric asked Jager if Greece needed to do more beyond the tough set of austerity measures Parliament passed on Sunday and this is what Jager told him:

The Greece debt crisis has forced the country to look to the eurozone for a bailout. But Greece is looking less and less like part of Europe. In the capital Athens, they are still cleaning up from the weekend riots. Even in its tourist precincts, the area is shabby and covered with graffiti.