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Is a Greek rescue package just around the corner?

Worldwide stock markets have reacted positively to more substantiated rumours regarding a potential aid package to assist the Greek authorities. This is a dark cloud which has been hanging over the worldwide economy for some time with concerns that problems with the Greece budget deficit could spread to other areas of Europe and then the rest of the world. However, it looks as though the European Union has managed to strike some kind of deal with the Greek authorities which will see significant budget reductions in exchange for financial aid.

While the deal has not yet been signed and is unconfirmed, we do appear to be edging towards a resolution which will place Europe and the rest of the world on a firmer footing. However, those who think this is the end of the potential threats to the European and worldwide economy may need to think again as other countries have seen their budgets balloon and are struggling to cover their financial obligations.

It has taken some time for the worldwide recession to impact upon individual country budgets and we need to be vigilant in attempting to spot potential problems before they grow out of control. The Greek situation may be on the verge of a resolution but this will not be the only challenge to the European Union.

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