Has this recent eu bailout for greece been a big help?

i know the eurozone has been in a big crisis lately with countries defaulting and big debt crisis.





im european and my countries are in trouble to ( spain ) - the highest unemployment levels in europe.





recently in the news there was a big meeting in which the eurozone has given greece another bailout to stop it defaulting ?





will this make any difference the greece at all or to the problems europe is facing? -thanks|||Not really.





The bailout would have been good if it was accompanied by clauses forcing Greece to implement the austerity measures required to make this bailout more than a way of buying time. The Greek government is finding it very difficult to put cuts through, because the people don't want them. The problem is, without cuts they'll get through this new amount of money quickly enough, and will still have ever-increasing amounts of debt. So whilst the public might not want cuts to things like the army and slightly higher unemployment, it's better in the short term than the sort of cuts they'll need to make if things don't get better, and majority unemployment. So to make the bailout work, Greece needs to cut its spending drastically, France and Germany (who are driving this bailout) should help Greece encourage investment and new business, and the money needs to be spent almost entirely on paying down the debt, rather than continuing high government spending. Unless this happens confidence in Greece will continue to be nonexistent, it will continue to have much higher spending than income, and will be back to the position it's in now within months.





As to Europe as a whole, if Greece fails then it could lead to a domino-effect that ends with even the strongest economies of Europe (the UK, France, Germany and to a lesser extent Italy) going back to the situation they were in a few years ago, as European banks have to deal with Greece defaulting on its debt, and the like. So as much as I doubt this bailout will be successful, Europe as a whole needs it to be.|||We must stop thinking of ourselves as Irish or Croatian. We are all Europeans now. We are brothers.





All for one, one for all!