Greek Debt Crisis: Part 2

Although Greece seems to be the underlying reason of the euro's rapid decline and Europe's inability to recover economically, problems are much much worse. The EU has a single montary policy for all its members. While Germany and France may be in a condition to start tightening monetary policy, Greece and Spain need the loose regulation a little longer.

It is important for the EU to either drop Greece as a member or help it out. If it leaves Greece behind, global markets and the euro will hit a brick wall. Spain and Portugal are two other countries who are also having trouble. Greece's problems are yet another extension of global worries following Dubai. If Greece is unable to lower its deficit, how many other countries may soon follow?

It is no longer a matter of what will happen to Greece. The new scenario is what will happen to everyone else in Europe who are somehow related to Greece in one way or another. It is important that Greece and the EU find a way to resolve these issues before the problems escalate. If Greece were to default, German and French banks would be the first to feel the effects. This is extremely bad news for the EU's biggest economies. In summary, Greece may be just the beginning of Europe's problems depending on how the situation is handled. Look elsewhere to make cash money.