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Greece Backs Out Of The Spotlight While Anti-Euro Sentiment Remains

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Greece Backs Out Of The Spotlight While Anti-Euro Sentiment Remains

After a very public battle between Greece's new, leftist government and EU policymakers over Greece's bailout program, the two sides reached an 11th hour deal that will keep the nation's economy afloat with another installment of EU funding.

The deal essentially extends Greece's bailout in exchange for promises of economic reform and looks to be enough to keep the nation from exiting the currency union.

However, the resolution between policymakers has done little to calm growing tension between member nations, feeding into a growing anti-Euro sentiment that has settled across the continent.

Germans Grumble Over New Aid

Polls out this week showed that only 21 percent of Germans were in support of releasing more funding to Greece, with the majority of the population considering the negotiations between the troika and Greek officials a form of blackmail.

Despite the European Commission's approval of the Greek reform proposal, many feel it lacks substance and doesn't truly signify a commitment to carrying out the obligations attached to the nation's aid package.

Related Link: Investors Begin To Turn Toward Greece

For one, the proposal didn't include any specific figures regarding costs or benefits for the Greek economy.

Though officials say they will work out the details in upcoming meetings throughout March and April, many worry Greece is receiving its funding without actually resolving the issue.

Who's Next?

With Greece fading out of the headlines, some believe the EU may see a rise in extremist movements in other countries.

In Spain, political unrest in Catalonia has been simmering as the region continues to garner support for a split from the rest of the nation. Additionally, a leftist movement called Podemos has been rising in the polls as Spanish citizens grow tired of high unemployment rates and corrupt politicians.

 

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