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Euro Zone Crisis: Bailouts For Spain, Cyprus; Health Woes For Greek Officials

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At the end of last week, both the newly elected Prime Minister, Antonis Samaras, and his finance minister, Vasillis Rapanos, were reported to have such serious health problems that neither would be able to attend this week’s summit in Bruxelles at which Greece’s crisis is the top issue.

Samaras underwent eye surgery for a detached retina on Monday and doctors have told him that he cannot leave his house, though he can accept visitors.

Rapanos, the head of the National Bank of Greece, collapsed last Friday and was hospitalized complaining of “acute abdominal pain and dizziness.” After undergoing a colonoscopy and other tests, Rapanos resigned by early evening or, at any rate, withdrew from the position as he had not yet been sworn into it. The result is, as you will not be surprised to hear, “confusion over the country’s plans on how it will ask the EU to renegotiate its bailout conditions.”

Greek President Karolos Papoulias will be heading a delegation to attend the EU summit meeting due to the prime minister and the finance minister, whoever that will turn out to be, not being able to attend. According to the Ta Nea newspaper, Democratic left leader Fotis Kouvelis and Pasok Socialist leader Evangelos Venizelos, who was the finance minister when Greece received its second rescue package of €130 billion, had been thought likely to be part of the delegation but will not be.

Related Care2 Coverage

Bailouts For Spain, Cyprus Loom: What’s the Euro’s Fate?

Record 11% Unemployment in the Euro Zone

Spain Struggling as Bankia Seeks Government Bailout



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5:21AM PDT on Jun 27, 2012

European union will collapse eventually... but why, is another issue....

8:31PM PDT on Jun 26, 2012

A second currency is needed that is based on assets...equity NOT debt. This would work in the Euro and the US. In the US it would be a US Treasury Dollar, equal to a Fed Reserve Note, by law. Each state would be given money in proportion to their assets over a 10 year period. No flood of currency here. No nationalizing the FED. Nearly same in Euro, but each country must realise the currency is a claim to their assets (gold, silver, land, property, and all government assets). Establish value by audit. Make the currency work for the citizens, not only the Rothchilds.

7:22PM PDT on Jun 26, 2012


4:25PM PDT on Jun 26, 2012

I believe that people are inherently fair. What is wrong with the present capitalist system is that it is blatently unfair. Normally this unfairness, although always present, is hidden below the surface, below the awareness of our ordinary lives, although we do get glimpses now and then. It is when the system emplodes upon itself, as now, that the unfairness of it all becomes apparent. If all this has taught us anything, at least, it should have taught us that we need to change the system - or - this will just happen, as history has shown, again and again and again.

1:10PM PDT on Jun 26, 2012

You can be assured of more bailouts and tax cuts for the rich and more austerity measures and cuts of benefits for the poor you can bet on it.

11:21AM PDT on Jun 26, 2012

Who will bailout the US? When it's house comes crashing down the quake will be felt by the whole world.

10:25AM PDT on Jun 26, 2012

Thanks for the article.

8:12AM PDT on Jun 26, 2012

What a mess! Doesn't look too good... wonder how long this house of cards is going to stay up for before it comes crashing down?

7:03AM PDT on Jun 26, 2012

Mais uma vez eu digo na Care2 o que é Alemanha hoje tem um estado que ao fim da cada ano dá lucro e tem uma economía mais rica deste planeta terra não há hoje nelhum continete do mundo que encoste a Alemanha mais unida ainda bem que hoje a Alemanha é democrática

6:24AM PDT on Jun 26, 2012

Europe is in a big sh** (From France)

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