The main impact on the Eurozone of Greece's debt issues has been primarily through the Euro, which has weakened sharply as the crisis has developed and concerns increased over Greece's ability to meet its obligations.
Under pressure from the Eurozone, Greece announced a package of austerity measures in an attempt to significantly reduce its debt levels over the next couple of years. Furthermore, a rescue package has been agreed by the European Union and in particular Germany and France, alongside the International Monetary Fund (IMF), to provide financial aid for Greece. However, Greek bonds remain under pressure as fears remain that the austerity measures and the aid package will not be sufficient to counter the debt problems and to enable Greece to meet its financial obligations, thereby raising the...
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