3.10 Greece and the European Union facing the crisis
Greece, France and Germany in the European union
Greece has been in crisis since 2008. In 2009, the economic crisis got worse, the actual deficit is 12,7% contrary to 6% formerly announced. Greece should pay interests , which resulted in a fall of the Stock Exchange and obliged Greece to increase taxes. With the crisis, unemployment skyrocketted in April 2010, and Greece asked the European Union for help.
France and Germany opposed : the French President wanted a plan to help quickly, while the German chancellor wanted a strengthening of penalties for countries which don't respect the rules of the stability pact.
http://www.lemonde.fr/crise-financiere/article/2011/11/02/la-grece-bouleverse-l-agenda-du-g20-cannois_1597178_1581613.html
Wolfgang Schaüble, the German minister of finance, wanted leaders of private industries, to help and to give an amount of 85 billion Euros. The European Union sets up a 110 billion euro rescue plan, in exchange for radical measures to decrease spendings.
http://www.handelsblatt.com/politik/deutschland/wolfgang-schaeuble-bankenfonds-koennte-schneller-aufgebaut-werden-/9593738.html
Germany and France finally helped Greece : Germany has already helped to refund 28% of the whole debt (8,4 billion Euros), and France has already helped to refund 21% of the whole debt (6,3 billion Euros).
http://www.les-crises.fr/grece-tout-faux/