The rescue plan

German Chancellor Angela Merkel made a deal to rescue Greece from being in financial troubles. If Greece goes bankrupt, 14 other countries would follow. That being said, Greece is a European country whose currency is the Euro. Most Europeans countries use the Euro.

The solution

Eurozone and IMF are the main financial institutions in Europe. They could potentially help Greece climb out of its current financial state. But the only way that Eurozone and IMF can give such a big loan is if they get the approval of the other 15 European countries. Without this approval, Eurozone and IMF can do nothing to help Greece.