On July 7th , 2015, European leaders will have a final word with Greece and there they will decide how to respond to the Greek referendum. The country is almost bankrupt and the complete financial structure has been collapsed. Standing in such a grave crises when the question rises whether Greece will remain in the Eurozone, the Greek Prime Minister Alexis Tsipras been invited to the emergency Eurozone Summit to demonstrate and present the exact situation of the great nation by the 18 leaders of different European countries.
It is anticipated and this is the ultimate that in the next few days all the Greek Banks will shut down as these will run out of cash. Though, there are still some signs that proclaim that the Greek Government is arranging for more conciliatory bailout proposal in this regard. Here, in the Summit, the countries representing, have been divided into two major groups. When Germany is following the stringent approach about Greece’s debt, France on the contrary and offering their hand for complete support and pushing for reconciliation. French Prime Minister Manuel Valls has already mentioned that the French government will give complete support and will do anything to keep Greece in the Eurozone, which a humane step is taken by the French government.
The skeptic attitude of the German Finance Minister Wolfgang Schaeuble is not impressive to the European Commission President Jean-Claude Juncker, ad that he has clearly mentioned in the European Parliament that maybe there are some powers in the European Union that is giving their best shot to excluding Greece from the Eurozone.
Let’s wait and watch how the austerity helps Greece to win or lose this financial war.