On Monday Eurozone finance ministers will be ready to discuss a 130 bn euro bailout package for Greece. According to Foreign Secretary William Hague Greece will face numerous problems if it abandons the euro and begins to distribute its old currency once again, which in fact is not readily available at this point of time. Moreover, shadow chancellor Ed Balls is criticizing the steps Germany is taking to support the eurozone arguing the fact that if Greece does stay with the euro it will certainly experience slow growth and high unemployment rates for quite some time. Germany and the European Central Bank are not able to take on the obligations that a single currency brings as well. Nevertheless, Mr. Hague believes that more fiscal and political integration is needed in order to make the euro work.
By Aleksandra Ruseva
http://www.bbc.co.uk/news/business-17088906
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