Euro Crisis: German Business Daily Predicts the Insolvency of Greece

HAMBURG, Germany, May 13, 2011 - Last year, "Das Handelsblatt" appealed for the purchase of Greek
government bonds in order to raise confidence in the concerted Greek rescue
plan. In an open letter to the Prime Minister, the Editor-in-Chief of "Das
Handelsblatt", Gabor Steingart, explained why the journal had lost confidence
in the European Union's current policy on Greece and the Papandreous
government's remediation measures. The country's bankruptcy is unavoidable,
says the Editor-in-Chief. He advises the prime minister to commence debt
rescheduling negotiations with the creditors without delay.

www.handelsblatt.com/papandreou

The author is an award winning Journalist, the former White House
Correpondent of "Der Spiegel" and now Handelsblatt's Editor-in-Chief. His
book "The War for Wealth. The True Story of Globalization, or Why the Flat
World is Broken" was published in the US, GB, China and several other
countries by McGraw Hill, New York, in 2008.

You may contact him at

Steingart@handelsblatt.com

Press Information: Literatur- und Pressebüro Politycki & Partner,
Schulweg 16, 20259 Hamburg, +49(40)4309-315-0, bp@politycki-partner.de

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