I find it hard to understand while the whole of Europe has to prop up one failing economy to such as extend. If i was Angela Merkel id be devastated that their own funds would have to be used to prop up a country that had failed to deliver an effective solution to this crisis years ago. The EURO is set for a massive crisis, and i for one are glad that England decided to stick with the GBP. - Daily Health

Past rescue efforts elsewhere hit private investors harder by Howard Schneider, (WP) Sep 28, 2011

"As a financial crisis spread through Asia in the late 1990s, the International Monetary Fund prescribed some harsh medicine for countries such as Indonesia and South Korea. But now that Europe faces a crisis, the approach has been different. The IMF and others have tried to ensure that banks and insurance companies get repaid for their numerous loans to indebted countries such as Greece, Portugal and Ireland. The slow pace of confronting problems involving hundreds of billions of dollars in government loans that may or may not be worth their face value has been blamed for dragging out the crisis, and has drawn complaints of a double-standard from Asian officials."

What really is the essnce of all this "tough medicine" that the GREEKS HAVE HAD TO SWALLOW FROM THE TROI? Of what benefit is pauperised people to the government. Yes, someone was reckless, but it is the Capitalist System that provided ample opportunites to squander the Greek economy and now ALL Greeks have had to pay for that? What of the Germans who had the benefit of a "devalued currency" tha tdrove the German economy to the heights it occupies today? I support the Greeks fighting this IMF, ECB and German imposed quinine! Let everyone who benefitted from the largesse also pay back.

Germany’s vote to increase the bailout fund is only a stopgap, NYT Editorial Published: September 29, 2011

"The big picture, in fact, has gotten much worse. Greece’s indebtedness is growing, European bank balance sheets are shakier and investors are increasingly skeptical that Europe has the will to stabilize shaky credit and stock markets. Also conspicuously lacking is any clear plan for generating the economic growth needed to begin paying down those growing debts. This week’s crisis-containment measures may steady the markets for a bit, but by failing to deal with the underlying problems they delay more realistic solutions."

This is a cogent outline of the Greek situation LINK. This LINK proposes a hidden problem and Germany, and this an interestingly heretical view from Ireland LINK

The slow pace of confronting problems involving hundreds of billions of dollars in government loans that may or may not be worth their face value has been blamed for dragging seslichat out the crisis, and has drawn complaints of a double-standard from Asian officials.