The Eurozone Crisis – the (Media) Drama continues

This is just a quick post since I am currently very busy with writing applications, articles, and getting books published (the usual “post doc” stuff). This is also the reason why I didn’t find the time to update this blog lately, despite so much going on right now in transnational Europe.

So why this update now? Well, it looks like the Eurozone crisis and the Greek dilemma are back on the top of the news agenda across the European media landscape. In recent weeks the transnational discourse, or more precisely, the blame-game between EU member-states, focused on the still unresolved migration crisis and relatively limited attention was given to the continuously swelling financial- and debt crisis (though it was always there). However, the political row between Greece’s creditors and the current Syriza government has yet again gained in momentum with the threat of a “Grexit” allegedly closer than ever (which has been repeatedly claimed over the past five years and thus has lost some of its actual shock potential).

A closer look at the different comment pieces, analyses, and reports reveals that actually no new arguments, visions, or plans have entered the discourse. The only real difference to the years 2010 to 2014 is that Tsipras, Varoufakis & co. are much less compliant than their predecessors – which is also a factor to consider in the intensifying ideological-cultural conflicts that are currently unfolding in the shadow of the economic-fiscal dispute. Just to give you a few examples for how the crisis made it back into the top news, here’s a selection of stories that were published on different international and national news media websites this week:

The Guardian Online provides yet another “live blog” on the latest developments and cites the Bank of Greece in its headline, which warns about an “uncontrollable crisis without bailout deal” (the thriller continues!).

The Wall Street Journal picks up the same apocalyptic quote for its headline.

This morning on German Zeit Online economist Hans-Werner Sinn repeats his argument that Greece was better off out the Eurozone and explains why Europe was on the wrong track for the past five years. However, he also says that Greece should have the opportunity to return to the Eurozone after it has stabilised its economy and introduced necessary reforms.

Meanwhile, reports on EKathimerini show that the Greek media closely observe political developments and -statements in Germany, where “Merkel’s Bavarian allies” allegedly said that “Greeks act like clowns in debt talks”.

Foreign Policy’s Daniel Altman argues that the Greek bailout are “incredibly stupid” due to their focus on short-term solutions for longterm problems – an approach that was doomed to fail.

The British Independent focuses on Tsipras’ claims that the IMF had a “criminal responsibility” for the rather intricate affair the Greek government and its creditors find themselves in.

Peter Eavis of the New York Times has a slightly more optimistic view than most on current events  when he argues that a “Greek exit would shake, but most likely not shatter, the Eurozone”.

Whether this week is actually more decisive for the Eurozone’s future than any other remains to be seen but the increased activity in the transnational web sphere at least indicates that the dispute between Athens and its creditors will probably return to the centre stage of the European public sphere.

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