Eurozone may provide financial assistance to Greece

eurozone states are exploring various opportunities to save Greece from the financial crisis. In recent weeks, the growing volume of Greek debt has undermined investor confidence in the single European currency.
  

the eve of the French edition of Le Monde, citing an unnamed official in Brussels said that the governments of several EU countries, notably Germany and France have been consulted for the study of mechanisms of financial support of Athens. ”
 

Among the most likely option is viewed providing bilateral loans from the EU countries of Greece, or assisting at the expense of internal funds of the EU. EU legislation prohibits any direct financial support for countries using the euro.
 

However, in exchange for such assistance, the euro zone may require that the socialist govef57rnment of Prime Minister George Papandreou has taken strong measures to curb the huge government deficit of the country.
  

Financial markets are worried that Greece is not in a position to service its growing national debt. This situation puts pressure on the European currency, the market increasingly talk about the possible secession from the euro zone, which in itself is an unprecedented step, with unpredictable consequences.
  

Earlier, some members of the ECB Governing Council categorically rejected Greece, even in the thoughts of EU assistance. However, in such a situation, many experts fear that if the euro area does not help, then Greece will have to seek assistance from the IMF. This will not just be embarrassing for Europe, such a loan could simply undermine the independence of the European Central Bank.
 

The Greek government has pledged to reduce government budget deficit to 8,7% of GDP. Currently, this figure rises to almost 13%. But even after reducing the deficit, its size will be almost 3 times the maximum permissible level in the eurozone of 3%.

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