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The Greek crisis
February 16, 2010
The financial crisis plaguing Greece is interacting, and it is uncertain that the EU could control it rapidly for several reasons, despite an agreement by EU leaders at their special summit that they met on February 11 to provide the support to Greece, when necessary and according to the deal made in Brussels < br> ..
The European countries are facing a substantial internal disagreements on dealing with the Greek crisis, that could sweep to other countries in case that the Europeans couldn’t curb the fierce attack, weaved by the capital markets and some monetary and financial institutions that bet on the disintegration of the euro area
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The European community in Brussels received with a great caution, the direct criticisms made by Papandreou the Greek Prime Minister for European officials in which he criticized the reaction of the European Union on the country's financial crisis, describing it as a very slow and hesitant response
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Papandreou said to the members of his cabinet at a meeting in Athens after his return to his country: The European Union missed the Joint Coordination and undermined the credibility of Greece
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The European Union in the recent summit in Brussels has been awarded to support Greece in the face of its financial crisis, but he did not give any details or plans for this support ... the debt crisis have caused a pressure on the European currency, the euro, and have reduced its value
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The European leaders said after a summit in Brussels that Greece has to take other actions to deal with the additional debt crisis and it has toreduce the huge deficit in its budget by 4%
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The ratio of the deficit in Greece is 12,7%, which means four times more than the rules of the euro area permitted
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