Who will help the European Union?
As the European Union comes under more and more pressure there is concern about where additional financing will come from if the European Union itself is unable to put together a bailout package. While talk of problems within the European Union may sound premature, in many cases the problem is there for all to see with countries such as the UK already backing away from a European Union bailout fund.
There is concern that European Union members are not happy about bailing out weaker members of the European Union who are unable in many cases to help themselves. On reflection many now believe that the European Union admitted a number of relatively weak economies to this exclusive club before the Union itself had found a base. If the Greek debacle is going to cost in excess of EUR100 billion what cost a bailout of Ireland, Portugal, Spain and possibly the UK in the short-term?
In something of a self fulfilling prophecy, many of the European Union members being asked to contribute to the Greek fund are themselves struggling and some are likely to come back to the European Union for financial assistance of their own.
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