2. Newspaper reports in Britain talks about bailout plans to Greece by EU
A reliable news source in Britain had headlines on the bailout decisions of the EU to aid Greece. The news comes as a shock to Germany. The Finance Minister of Germany said that they were not aware of any such decisions taken by the EU. They had considered that the Greece would take self initiative to come out of their financial crisis.
EU has responded saying that the decision is yet to be concluded. Out of 27, 16 Euro zone countries have agreed to provide aid to in forms of loans and loan guarantees, heavily indebted Greece, if Athens could not finance Greece.
Greece is under deep financial crisis and has come up with austerity measures to offset atleast a small part of the debt. Their austerity measures had invoked protest among the public servants since the austerity measures included cut in their pay package and bonuses.
