Universal International Ventures : The Greek debt crisis has compromised the credibility of the 16-nation euro zone and leaders must devise a mechanism that assuages the fears of markets if it is to repair the damage.
Analysts at Universal International Ventures said that many view Germanys reluctance to violate EU rules as a self-serving position given that many Germans are opposed to providing any financial assistance to Greece which is seen as unwilling to endure the same level of pain Germany suffered when it went through reunification after the fall of the Berlin Wall 2 decades ago.
The sharp divisions that exist within the single currency bloc about how to help Greece have led to speculation that the euro zone may be a fundamentally flawed concept with no capacity for coping with crises.
Universal International Ventures sources suggest that the current crisis and the potential for further problems with Portugal and Spain presents the EU with a make or break scenario that will require coordinated efforts to determine if the euro single currency survives the next 10 years.
The latest incarnation of the Greece assistance package will most likely be announced after a two-day summit in Brussels and is likely to include a central role for the International Monetary Fund.
Universal International Ventures