The euro is dominating European headlines and causing fissures in the eurozone. Germany is a reluctant bailer, the UK is ignoring its responsibility whilst Greeks are taking to the streets. Journalists from the UK, Greece and Austria dissect the media's v

Press Corner: Euro and the city

where we discuss some stories   that have been in the media

and exercise Europe's bloggers   and blog-readers.

Let's meet the team. To review the media   I have my colleague, Maria Maggiore.

I'm also joined by Lavinia Hoyos   who has scoured the blogs for us.

My guests are Jannis Papadimitriou of   the German broadcaster Deutsche Welle,

and Thomas Mayer, a journalist   on the Austrian daily, Der Standard.

Since the last programme   a lot has happened -

a huge rescue package   for Greece and the euro,

changes of government   in Hungary and the UK,

which has its first coalition government   for 70 years,

and an Icelandic volcano   disrupting the travel plans of millions.

Let's start by looking at   some stories in the media.

Tensions are rising in the Eurozone.   The crisis is still affecting us.

The tensions are mainly due   to the attitude of Angela Merkel

hindering the agreement adopted   to rescue the Eurozone.

In this article from Les Echos the   President of the Eurogroup Juncker

says that some people   should keep quiet.

It's not the only time Mrs Merkel   has been criticised over this crisis.

Before Juncker, who as President   of the Eurogroup is the most authoritative,

Guy Verhofstadt, the former Prime   Minister of Belgium and Leterme

criticised her attitude   which doesn't help the markets.

Each time Merkel speaks,   the Euro goes down.

This doesn't improve   the stability of the markets.

There's nowhere where the problem   is being felt more greatly than in Greece.

Jannis Papadimitriou, how is   the whole story being handled there?

It must be seen   from a different perspective.

The perspective is   and has been very different.

It will remain very difficult   for the next two years at least, I believe.

We've seen now   that Greece has bought time -

political time, time to act   and to reduce the record deficit.

On the other hand... I think it's important   for European taxpayers to know this.

This is not only   a rescue package for Greece,

it's also, if not mainly   in the next two years,

who have given money to Greece   in the previous years and decades.

I think the very difficult time   will come in two or three years from now.

We're only seeing   the start of the story now.

In this programme we always look at   the pictures from a news story

You won't have any problems   with this freeze-frame.

It has been very disturbing   for the people of Greece.

Obviously, austerity moves   are never popular.

But is there a feeling   that they will be accepted?

I'm not so sure for now, but of course   the rescue package is very hard.

Greece is quite a poor country   in comparison to Germany or France.

It's like Germany adopting an austerity   package of about 300 billion euros.

This whole idea of the rescue package   hasn't been popular in Germany.

The German people were assured   when they joined the euro

and left behind the powerful Deutschmark

that they wouldn't be called upon   to rescue the rest of the currency.

I am speaking the German language,   but I am Austrian,

so it is maybe easier for me   to explain German positions,

without being suspected   of German nationalism,

which several countries unfortunately   have done, as Greece and others.

I have a different view of the last months   regarding the function of Chancellor Merkel.

I do not share the general criticism   that she acted too slow. On the contrary.

I think that she examined everything closely   and acted very reasonable,

because she considered not only   the next step but also the ones after.

If Merkel had said from the beginning,   in January for example,

we spend 100 or 150 billion euros,   just the Germans,

then other things which have come   to surface would have never been revealed.

The pressure on the countries who are the   reason for the crisis would not have grown.

The problem is timing. Merkel was   criticised because of her delayed actions.

If actions were taken in the Eurozone   two or three months ago,

countries could have saved   thousands of euros.

Anyway we ended up with a similar   outcome, namely a plan for the Eurozone.

The reason: As we have seen   you can buy time with money.

But you cannot buy structural changes   which are necessary inside the Eurozone.

The root of this crisis   is that the Eurozone members,

Germany, Austria, Netherlands   on the one hand

and Italy, Spain, Portugal, Greece   on the other,

have a very different perception of economic   policy regarding a common currency.

This is crux of the matter   which will be subject to many discussions.

Jannis, I know you have written a piece   about the demonstrations in Greece.

I've looked at some of the pieces   you've written there.

It is proving difficult for those who...

Everyone accepts that the debt   has to be brought under control,

but it was never going to be easy.   It wasn't popular in Ireland either.

It wasn't going to be easy,   but it would be easier

if the Greek government showed that   the measures are fair and correct,

and the responsibility   is shared by everybody

and especially the rich, the happy few,   which is not really the case.

In the first weeks after the crisis   broke out, the Greek Prime Minister said

that all people earning, let's say,   more than 100,000 euros annually

in order to contribute to reducing   the deficit, which is a great idea.

But how many people earn   over 100,000 euros per year?