Debt crisis threatens to break up Europe

Resentment in Italy is growing against Germany, the European Union and even German chancellor Angela Merkel herself, he said, adding that ?the pressures already bear the traits of a psychological break-up of Europe?.

Last week, Greek prime minister Antonis Samaras secured cross-party support for a further ?11.5bn (?9.11bn) of cuts in 2013 and 2014 to keep the ?130bn of international rescue funds flowing. The details must be agreed by early September if Greece is to receive its next bail-out tranche.

The divisions within Europe were laid out in the weekend?s German press, where German regional finance minister, Markus Soeder, said that aid to Greece should be stopped. ?When a country like Greece on a continuing basis cannot pay back debts, it must leave the eurozone,? he said. ?Greece should quit by the end of the year.?

Source: http://telegraph.feedsportal.com/c/32726/f/568617/s/221333af/l/0L0Stelegraph0O0Cfinance0Cfinancialcrisis0C94542550CDebt0Ecrisis0Ethreatens0Eto0Ebreak0Eup0EEurope0Bhtml/story01.htm

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