Greece Debt Crisis

May 10, 2010 by admin

Greek crisis has reached a new level this week with the riots occurred. It involves three people injured in Marfin Bank in Athens, after masks protestors threw Molotov bombs in front of the bank windows.

On the Thursday night, the Greek parliament to come to talk about the bailout Greek. Although the Greek main opposition parties oppose it, but the parliament gave the final say about whether Greek will have access to 110 billion by the International Monetary Fund European Union.

Street protests are not about the bailout money, but spending cuts and tax increases are excessive. Also need to understand that the IMF bailout will not be enough to close the Greek debt.

Obviously, there will be financial assistance to help finance Europe. It is evidenced by the European Union has agreed to provide nearly USD1 trillion bailout on the date of May 10, 2010, Monday. Bailout announcement will bring investors back into the market. That was unexpected to everyone how long this will restore confidence in the market and the economy of the European Union.