Future of Euro Uncertain, Greece to Submit a Feasible Loan Programme Plan to Its European Partners
When the pro-European politicians and bureaucrats planned to form the eurozone they thought of integrating Europe into one.
However, with Greek debt crisis and Britain planning an exit, the dream might just turn into a nightmare for the Euro. The main motto was to create one government that will bring peace, ending wars which have torn the continent apart for centuries.
But, that again would mean countries forgetting their sovereignty and considering themselves as European and not separately as French, Greeks, Germans or Irish. If the politicians thought that was possible, it seems like an unachievable dream.
Wolfgang Schaeuble , the German Finance Minister agreed that some debt restructuring plans will be needed to be put forward by Greece as a part of its new plan for loan programme if it wants to make avoid a total collapse. Greece is supposed to submit a plan for reforms to convince its Euro partners for another loan which can save it from exiting the euro.
Till now Greece has got two bailouts from the eurozone as well as the International Monetary Fund which amounts to _240billion but still it the country's economy failed to keep itself afloat shrinking almost by a quarter. Unemployment has risen to more than twenty five percent and every one young person among two is unemployed.
Time will tell what will happen to the euro and till then all eyes are on Greece and its reform plans.
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