Germany is considering backing the proposed joint bailout of Greece by European governments and the International Monetary Fund they indicated on Thursday. Greece had requested European aid by next week, though there were no concrete indicators that they may recieve it. Greece is in the process of enduring severe budget cuts designed to demonstrate the effort they're putting forward in assuaging the debt crisis.
German Chancellor Angela Merkel is "open to a financial participation by the IMF" in packages for Greece's recovery according to a senior German official said. It was emphasized that no final decision on the matter has been made yet and that ideally, Greece will succeed in solving its own problems via even more budget cuts.
Prior to the announcement, the German finance ministry had voiced disapproval an IMF effort for Greece.
Other European countries are likely frustrated with Germany as they continue to change their stance on the Greek dilemma. The nation's will get a change to express their opinions on the matter next week In Brussels when the nations will meet for a summit.
Greek Prime Minister George Papandreou has asked for concrete answers on financial support at the end of the summer, though many are convinced more discussion may be necessary to determine how and when they will administer support.
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