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European Union officials demand more cuts from the Greek government

In what is fast becoming something of a stalemate between the European Union and the Greek authorities, today we saw a number of prominent EU officials step forward with a suggestion that the Greek authorities need to introduce more budget cuts in the short term. This call comes despite a planned nationwide strike by various public and private sector workers who are concerned that their employment prospects are at risk due to the massive budget deficit which has placed the country on the verge of collapse.

After initially seeming to understand the situation perfectly, various EU officials and EU members appear to have backtracked on earlier indications of help. Indeed the German authorities quite bluntly suggested that financial assistance would not be imminent and discussions between the EU and the Greek authorities need to continue. The problem is that the longer the situation goes on the more chance it will impact upon the wider Euro zone and could bring countries such as Spain, Portugal and Ireland into the mix. It is also known there are other smaller economies on the verge of financial problems as the situation continues to deteriorate on a day by day basis.

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