The Greece government is not able to raise a penny in the international money markets after Standard and Poors downgraded the country to Junk status. The Greece government needs over 40 billion dollars of loans in the next three weeks to roll over the maturing debts, for which it is seeking the help of IMF and European Union countries.
The financial support is going to come through only if Greece agrees to bring lot of austerity measures that could cost the massive Greece public lot of hardship. The Greece unions are planning to go for major protests across the country in the next few days to force the government to not implement the austerity measures.
How Greece government and the public handle the dangerous financial mess up over the next several months is a billion dollar question which would affect the entire European Union setup as a whole.
