Greece debt continues to threaten the euro that provides the basis for EU economic exchange. In June 2011, a second European rescue fund of €109 billion was approved by the Eurozone Countries and the I.M.F. to rescue Greece. The I.M.F. share of this bailout was €3.3bn. The European rescue fund came from the €440bn European Financial Stability Facility that the European Union countries had approved as a general rescue fund May 2010. The IMF had provided an additional €250bn to the EFSF European rescue package. (more…)

The current public debt in Germany is the reason for many controversial discussions in the German parliament during the last days. Moreover, some politicians show interests to raise taxes again, though the tax rates in the 16 German federal states are already very high. But a discussion about the unreasonable squanderings of billions of Euros earned through taxes every year does not really take place. (more…)