8/31/2011 - Is the Greek Bailout Falling Apart?

The Curious Capitalist
Link: Is the Greek Bailout Falling Apart?

"Only a bit more than a month ago, the leaders of the euro zone were happily congratulating themselves on overcoming their differences and cobbling together a second bailout of troubled Greece. The package, which includes 109 billion euros ($157 billion) in fresh loans from an EU/IMF bailout fund, was supposed to rebuild investor confidence in the monetary union and alleviate mounting pressure on debt-heavy Greece. But it has done neither. The euro zone debt crisis intensified after the deal, turning up the heat on giants Spain and Italy. And now, bitter infighting within the zone threatens to derail the entire Greek bailout package. If the deal can't be rescued, the failure would deliver a blow that would sink Europe deeper into financial turmoil. What's the problem? The continued disputes over the second bailout of Greece highlight just how difficult it will be for the euro zone to resolve the debt crisis and solidify its monetary union." (See also German Votes and Finnish Side Deals Threaten the Greek Rescue.)