Troika representatives will arrive in Greece next Tuesday to assess its progress towards reducing its debts. Their objective is to decide if Greece is worth the trouble or if will be better to let it depart from the Euro Zone.
Meanwhile the IMF calls towards establishing banking and fiscal unions in the Euro Zone to boost monetary union. Growth in the Euro Zone is not expected until 2013 with a dismal 0.9%.
One key policy measures taken to address the crisis is the European Stability Mechanism which will become a permanent support mechanism that will be able to provide financial assistance to member states, with a long-term lending capacity of €500 billion.
Main criticisms have been the slow respond from Euro leaders to the crisis and their ability to quickly enforce reforms. Whether Greece exit will be of any help remains to be seen.