Nationwide Strike Grips Greece: 24 Hours of Transport Paralysis
A nationwide strike in Greece has brought the country's transport networks to a standstill, affecting railways, ferries, buses, taxis, and more
Germany's most influential magazine Der Spiegel has joined a chorus of voices, claiming Greece's exit from the euro zone is the best solution to the current dead-end.
"Despite all the skepticism, our editors have until now pleaded for Athens to remain in the euro zone," Der Spiegel wrote in its editorial column, entitled "Acropolis, Adieu!"
"Since the parliamentary elections at the beginning of May, Spiegel observers have changed their opinion."
"The Greeks were never ripe for the currency union and they still are not today. The attempt to make the country sustainable healthy through reforms has failed," Spiegel journalists wrote in their in-depth report on Greece.
"In the meantime it is clear that the exit is in their own interest... Only an exit of Greece from the euro zone gives the country a chance in the long term to get back on its feet."
Greece faces anew the risk of default and exit from the euro zone after voters rejected austerity and the terms of the country's bailout from the European Union and International Monetary Fund, plunging the country in political instability.
Greece recently won approval for a second bailout of EUR 130 B intended to help keep it afloat until 2014.
Germany is having to pay more than any other country for the package - angering many German citizens and politicians.
Despite the measures, some analysts fear Greece might need even more help.
The Greek economy is expected to suffer a fifth consecutive year of recession this year, and has already shrunk 12% since 2008.
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