(Thumbnail Image: EUobserver)

 

With hopes of preventing a European financial meltdown, Greece has agreed to a bailout led by the European Union and International Monetary Fund. But many are wondering whether or not it will help restore faith in a distressed eurozone.

We're taking a look at perspectives from CNN, MSNBC, The Atlantic and Fox News.

As final details on the $160 billion bailout are determined, many hope it will divert Greece from a seemingly unavoidable financial disaster that could have a domino effect in Europe. But some experts say it may not be enough. A report for CNN tells us more.

"To borrow will cost more money."
"It puts a lot of pressure on the euro."
"All of this could stall an economic recovery."
"But some analysts are saying that may not be enough to restore confidence in the economy."


On MSNBC, hosts of "Morning Joe" say the country is in deep trouble.

"The country is bankrupt. It's about to take Europe and the world economy down with it."

As more European countries experience financial turmoil, experts are questioning the euro's staying power. CNN's Fareed Zakaria isn't optimistic.

"One could imagine a country abandoning the euro itself or being kicked out. This crisis has highlighted the original sin in creating the euro. Bringing together countries that are vastly different, all locked into one currency."

And a writer for The Atlantic says an end to the euro could actually help Greece.

"Going off the euro has huge, dramatic costs. But I think it's clear that on or off the euro, Greece is going to have to get its fiscal house in order...[and] it will be a lot easier with a looser monetary policy and a cheaper currency."

But a panel of experts on Fox News say the euro will indeed recover  but that won't help Europe.

"The euro will rebound."
"Germany will come to the rescue, but Europe is dead. For a variety of reasons. Invest in American and Asia."


So, do you think the Greece bailout will help? Or is Europe on the verge of a financial meltdown?

World News

Greece Agrees to Bailout by Euro Zone and the IMF

May 3, 2010
(2:04)
Greece has accepted a $146 billion European Union-IMF led bailout. But many are wondering whether it will help increase faith in the distressed euro zone.
   
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