It seems Greece doesn't want to live up to the commitments it made oh so very recently when it got bailed out by the EU. (Mostly by Germany.)
Germany moved to stifle suggestions that Greece could get more time to repay a bailout from the European Union and International Monetary Fund.This isn't over yet, and Greece is only the first act. Spain, Portugal, Italy and Ireland are waiting in the wings. And Britain isn't in great shape either - though it isn't part of the Euro-zone.
“We are not in favor of extending the repayments schedule” for Greece, German Finance Ministry spokesman Bertrand Benoit said in a telephone interview today. Any such move would be “premature,” he said.