Greece is Not Safe From Financial Crisis as Spain And Italy Threaten to Block Bailout

Greece could be diving into a financial emergency as Spain and Italy threatens to hinder a multi-billion Euro bailout bundle.

The bailout was just affirmed on Thursday night by European fund ministers.

Eurogroup of fund ministers may obstruct a £7.4billion (€8.5-billion) credit to Greece on the off chance that it doesn’t grant immunity to privatization office authorities from Spain, Italy and Slovakia.

Reports said Spain and Italy want to guarantee the invulnerability of the authorities who face possible jail sentences.

The trio of authorities – one Italian, one Spaniard and one Slovakian national – are blamed for withholding interest payments and neglect of duty in connection to a deal and rent back arrangements of 28 state-possessed structures in Greece, bringing about multi-million dollar losses.

Under Greek law, any losses in excess of £130,000 (€150,000) will result in criminal proceedings.

A Greek government official said Greece would do “whatever necessary” to instantly settle the legal case.

On Thursday, eurozone governments gave Greece the most recent financial help and sketched new elements on possible debt relief, enabling Athens to abstain from defaulting on bailout payments one month from now.

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