The Greek treasury is still empty, despite rounds of austerity and tax hikes. According to a Greek newspaper quoting figures from the International Monetary Fund, the Greek population owes its government some 87 billion euros in unpaid taxes.
Although European economies have experienced a steady upswing in recent years, not enough has been done to prepare for a rainy day, the IMF has said in a fresh outlook. It cited a number of risks to be aware of.
Germany has a booming economy but most Germans are not particularly wealthy. Hans-Böckler-Stiftung says that the danger of poverty in Germany is comparatively high and measures should be taken to avoid a crisis.
Greece's creditors have concluded a first round of fresh bailout inspections to assess reforms. Even if deadlines are met, a shattered economy and battered public trust will linger behind, says Anthee Carassava.
A 29-year-old parcel-bomb suspect has been arrested by Greek police probing intimidation of European figures involved in Greece's financial bailouts. In May, Greek ex-premier Lucas Papademos was wounded.
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