Europe’s Big Fat Greek Bailout
Over the past few days, the Greek markets have been circling the drain. It appears as though the debt-ridden country will not be able to pay their debts. A bailout may be in order. Euro zone leaders fought hard for a bailout plan the provides Greece with loans and IMF funds. One intent is to protect the euro.
Greece hoped that the existence of the plan would be enough to calm the market, and, as of today, they have no interest in putting the plan in action. However, the plan is too vague to calm the market. Should a bailout be required, every member of the EU must agree to the plan. Germany does not seem to support the plan while Italy and France have both voiced support for Greece.