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If the European Union won't bail out Greece then who will?

As the Greek saga continues to worsen there is concern that if the European Union is unable or unwilling to help in the short to medium term then who else can the Greek authorities turn to?

While it is likely that the European Union will cut Greece adrift, with analysts expecting some form of financial assistance in the short term, we also have the International Monetary Fund waiting in the wings. What we need now is a concerted effort from various third parties around the world to ensure that the Greek economy does not collapse and potentially infect other countries within Europe and potentially around the world.

Even though the issue is being presented as a European problem it has the potential, like the credit crunch did, to infect other parts of the world and cause significant harm to investment and money markets. If the wheels of the worldwide economy grind to a halt, for whatever reason, then the hundreds of billions of pounds already poured into the worldwide economy will have been wasted and we will be back to square one with limited or no funding available. There are hopes of a short-term solution to the problem but the longer this drags on the more damage it will do.

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