The ongoing fallout from the Greek economic crisis continues to hit the economy with violent clashes between strikers and the authorities today. This comes at a time when the Greek authorities are in deep discussions with the European Union and the International Monetary Fund (IMF) regarding a proposed bailout for the country.

The country is literally on the verge of meltdown and unless hard-hitting budget spending cuts can be agreed in the short term it is unlikely we will see any financial assistance from the EU or the IMF. Talks last week did make progress but ultimately no long-term lasting agreement was made and no financial assistance came forward from the EU or the IMF. The Greek public are growing ever more concerned at the fact that they are paying the price for the policies of the government and "international speculators" whom they blame for much of the problems.

This situation has dragged on for far too long now and indeed it has impacted upon the overall performance of the Eurozone economy which has had a knock-on effect to areas such as the UK. Now is the time for the EU and the IMF to step forward and confirm financial assistance for the Greek authorities and bring to a close this damaging saga.

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