International Aid , Emergent Patient Encountered Sluggish Doctor

December 23 [Thu], 2010, 11:03

The excerpts of the article excerpts are as follows: Greece financial crisis with twists and turns had a new good show: on May 2, the euro zone and the IMF finally reached an agreement after a long time: they would provide a 110 billion euros rescue to Greece in 3 years in stages, in which the euro zone would pay 80 billion euros in aid, while International Monetary Fund would bear the remaining 300 million euros. On April 27 and 28 the standard and poor lowered the sovereign bond ranks of Greece, Portugal and Spain, and the former 45 billion euros emergency help went out rapidly before its final decision. Greek finance is hanging by a thread and the whole Eurozone is in a constant state of anxiety and is afraid of linkage effect. Under this more and more severe condition, Greece grasps the hard-won life saving straw. The largest assistance force comes from German. Although in the crisis of Greece, in addition to Euro zone and EU, at least 5 international organizations (the World Bank, the International Monetary Foundation Organization, the International Labor Organization, the International Organization on Corporation and Development and the World Trade) can help. However, it`s obviously that the powerful one who can save the financial dying Greece was German rather than any other countries.The Most Brilliant at Hot Price, Find the One for You!

During this global financial crisis, Germany is one of the few who got little influence. nba kobe are on the Top in the List of Most Wanted Articles in 2009 Its export has been favorable, its government deficit has been well controlled, in spite of the fact that the banks are under the pressure of bad debt, and much large manufacturing as well as import and export enterprises are threatened by the break of fund chain. charming women â€[ Are They Still In Vogue? Germany is not only the biggest creditor of Greece, but also the [healthiest backbone" of the European Central Bank. His help will save his brother, as well as enhance the confidence of other countries in euro area. In a work, it is significant to stabilize Greece and to avoid chain effects. Therefore, all parties' "fire" concentrated on Germany government after finance crisis happaned: some other countries in Eurozone as France, Britain, Italy stress bright or dark that the hesitate attitude of Germany dragged aid and if they do as now, the result is inconceivable; Five international organizations besides Eurozones sent representatives on April 28 for Berlin, to persuade Merkel take a hurry decision, Euro-Union Commission, European Central Bank competitively made calls and showed attitudes. Greece Media are burning with more indigence showing unsatisfactory for Germany doing nothing to help Greece.

German said that it will not do such thing again, while under the overwhelming pressure, German still hesitated to take any measure. Premier Merkel, foreign minister Westerwelle, and president of Central Bank Weber declared that German would definitely assist Greece. Weber originally kept his attitude on the matter of aid unknown, he said on 29th that Germany offered aid to Greece was [the best solution to avoiding the crisis spread to other countries". However, Financial Minister Wolfgang Schaeuble made a statement on Bild that Germany would be work hard together with international organizations to a plan on aid which carried out in [three years in installment". Under pressure,German says finally that according to the plan, German will undertake 28% of total amount, which is 8.4 billions in 30 billions and 22.4 billions in total 110 billions. As the advocator of the unitization of euro and Europe, German cannot stand the collapse of euro or the endangerment of euro area which will definitely lead to the disintegration of the whole euro system. As the biggest owner of Greek national debt, Germany will be hurt badly in case Greece bankrupt. Seen from this perspective, German has to offer its help.

But this concession is limited. After the declaration Wolfgang Schaeuble confessed that this assistance fund would be the most one that Germany could offer, which means there is no way to ask more from it. According to the analysis of financial analysts, this sum of assistance is only able to ease but not eradicate the recurring illness of the Greek crisis, because it could not help Greece regain its imperative hematopoietic function so as to be capable of paying back the debt in one day. Moreover, if the financial crisis was spread to other countries of the euro area, there was analysis saying that at least 500 billion euros would be needed to save at last, in view of this, on the one hand, Germany "equity split", shouting "not to be taken as a precedent", on the other hand it would probably take use of the opportunity to hawk the previously proposed "European Monetary Fund" program. German people objected to aid Greece: Germans in general did not agree to use their tax money to fill bottomless Greece, fearing that this move would lead to great shrink of their wealth. Moreover, since the crisis, the Greek Government was inconsistent with its words, at the beginning it stubbornly refused assistance, saying "there is no problem", and then reported a hole of 45 billion euros.

When Germany and International Society rack their brains, planning to fill the hole, the subsidiary sum changed to be 110 billions, which would naturally make strict Germans bridled up-who knows how much Greece need after 3 months? Not only German people objected to provide aid, many influential economists also held the same attitude, and what made Merkel government even scratching was that May 9 was the day for German regional election, in the public opinion atmosphere currently, if any political party advocated to provide large-scale assistance to Greece, it was bound to anger the voters and lead to serious consequences. 110 billion of checks although has been drew, it has not been effect, which needs approval of each congress, and you can imagine, before May 9, Merkel Government would mot to poke the nest of hernets which would embarrass itself, the voting procedure would be delayed after 9th date, and 10 days, Greece have to pay back international debts of 9 billion US dollars. Greece-a urgent patient-just meets Germany-a slow coach. But it cannot be impatient. Now Greece authority has to face the inland public and labour union who are angry with its serve retrenchment strategy on one hand, on the other hand, it can only pray Germany aid approval procedure threatening but not dangerous and to stay safe.

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