Get global business and technology news afresh
In: Economy
28 Apr 2010There is a cloud of argument that is continuing in Germany over offering monetary aid to Greece. The Germany’s conservative ruling party has agreed to aid Greece. The largest opposition party, Social Democrats, have also expressed their consent to aid the debt laden Greece. They have agreed on the ground that the stability of euro is under risk and would affect the entire EU nations.
But the one of the ruling party Free Democrats have opposed the move. They were critical and accused the Finance Minister on providing aid to the Greece too easily. They said that they are not against helping Greece, but the conditions have not been met yet. They have said that the austerity measures of Greece are not very impressive and effective. The head of lower parliament and the law maker of Social Democrats have told that they would back aid to Greece but the risk of Germany in doing so have to monitored. Some leaders say that Greece should have turned to International Monetary Fund for aid. Some of them say that Greece should handle its debt by itself. Greece has spent its finance blindly. If aid is being provided to Greece, it is like punishing countries that have monitored growth.