“OR Greece points to France how is it done”, is the title of an article published on the website of the private news station n-tvwhile the “WELT” speaks of a “golden decade” for Europe’s “former problem children” who are now recording higher growth rates than Germany.

“The former debt delinquent has become a model student of spending discipline. While Paris is sinking deeper and deeper into fiscal chaos, things are changing in Athens,” writes n-tv and refers to a contrast between the two countries, which “could not be greater.” France, as the columnist notes, is facing a political crisis “of the kind known until now only by the debtor states of southern Europe” at the height of the euro crisis. “After years of painful fiscal consolidation, Greece is on the rise again. The economic dynamics of both countries are diametrically opposed: While France is sinking deeper and deeper into deficits, Greece is running surpluses and reducing debt. All indicators point completely to the upside. In many ways, Athens is showing the Paris government the way,” adds the editor.

“On the same day as the historic fall of the government in Paris, the Paris-based OECD gave Greece a top score in terms of budget and economic policy. The Greek economy has held up well during the current crises and has outpaced growth in the Eurozone after the global energy crisis”, while in France the exact opposite is happening, the n-tv columnist notes and adds that Greece is becoming increasingly important for world trade. “Greece has reaped the benefits of the many important reforms it has implemented over the years,” said OECD Director-General, Matias Korman, presenting the Organization’s report. “As a result, something is happening that was previously unthinkable: Greece is gradually getting out of debt. The country’s debt mountain has shrunk significantly since 2020. According to the OECD, it is still 163.9% of GDP according to the Maastricht criteria. But given the astronomical starting point of 209.4% just four years ago, this is a significant improvement,” the report said.

WELT, at the same time, analyzes the course of Greece, Spain and Portugal after the debt crisis, which in recent years have managed to recover. “Southern European countries now have the lead in development. The reasons for their success reveal what needs to be fixed in Germany,” comments the columnist. “Greece, which fifteen years ago was on the verge of bankruptcy, is considered, even temporarily, a more reliable debtor than France”, adds the editor and even speaks of France’s “humiliation”.

The economic recovery of southern Europe is due, according to FAZ, to a combination of short-term and long-term factors, with a common denominator being the revitalization of the service sector, especially tourism, from the dynamics of which Spain and Greece particularly benefit. “While German industry is being hit by high energy prices, geopolitical developments, trade wars and China’s economic weakness, ex-crisis countries are not as affected by these developments, mainly because their economies are not based on industry. In addition, countries such as Spain and Italy were less dependent on the import of Russian energy when the war in Ukraine broke out”, the editor analyzes and also emphasizes that the countries of the South are making better use of the €800 billion NextGenerationEU European recovery plan. implementing ambitious reforms.