The european union and IMF on Monday agreed to bailout Greece with loans up to 110 billion euros ($146 billion), if the government of Greece would  cut their public spending. This bailout should help the government  meet its obligations. But, it is not clear that it will prevent a fall out in the European markets. The agreements that the countries have come to is a payment plan that will happen over 2 years and total over 110 billion euros. The IMF will be helping with this bailout package, however, the amount and terms of the IMF deal is still unclear.

In my opinion this is not a bailout , but rather a bandage. The countries of europe and the rest of the world are feeling these events again. We have to stop covering up these situations and fix them. It is like a dam with a hole in it. You plug one hole and another opens. I think that sometimes you have to let it all go and then rebuild. The sooner we do it the better we are in the long run.