Greek debt worries part III - Bail out!

Greece has finally been bailed out by the EU and the IMF. They will provide €110bn to shore up the ailing economy in return for €30bn worth of austerity cuts and tax rises over three years. The EU will provide the majority of the funds, €80bn, and the IMF will come up with the remainder. The move is unpopular in Germany because it will have to provide most of the funds, since the economy is the strongest in the euro zone. The markets should clam down a bit when they open on Tuesday. If the EU stopped messing out long ago then the markets may have never spooked in the first place. Oh well, these things will always happen again and again. The UK may head that way if they keep on dithering. 

The US stated that BP would have to cover the costs of the oil spill which started to occur last week when the oil rig collapsed during the fire. The latter said that they are doing everything they can to prevent an environmental disaster in the Gulf. I think that would send the shares down even further because the potentially high cost of the event in terms of this financial year profits.