25/07/2012
The patience of creditors to Greece seems to have run out. Despite all the assistance provided to Greece so far, it is still threatened with bankruptcy.
There is also an increase in the seriousness of the situation in Spain in the light of increasing interest due on the debt, which causes global financial market's crisis. The value of the euro declined yesterday to below $ 1.21.
According to the newspaper "Süddeutsche Zeitung" published Monday in Germany, there is a new multi-billion euro deficit in the budget reform program in Greece, although the parties forming a coalition government which is in charge of Greece since June last excluded citizens bear more financial burdens. According to the paper, the creditor nations of Greece, particularly Germany, are no longer willing to submit to the Government of Athens with promises of more financial assistance. The paper quoted well-informed circles in Berlin government as saying that "I do not think that German Chancellor Angela Merkel once again stands before the Parliament to call for more credits.
