On Wednesday, the European Union called a decision of Greek Parliament to approve a controversial package of austerity measures, observed as critical to avoid default.

"The country has taken an important step forward along the necessary path of fiscal consolidation and growth-enhancing structural reform”, European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy said in a joint statement. "But it has also taken a vital step back -- from the very grave scenario of default. This was a vote of national responsibility”.

Things are quite well at present in Germany, which is the industrial center of Europe. Figures have shown that western flank in Germany has become the greatest exporter of the Western World. The news has been confirmed and that makes it the second largest exporter just after China and before the US.

For helping the place achieve the level that it has reached till now, the container ports have played a major role and have worked day and night to achieve it. The record orders were sent to southern and Western Europe, then came US followed by China.

Wolfgang Schaeuble, the Finance Minister of Germany, has stated that the individual sponsors will be given an option to contribute to the revival of the economy in Greece by pooling in money for the fresh bailout.

German Finance Minister Wolfgang Schaeuble has stated that the country’s debt crisis may be removed by extending the maturities of Greek bonds. This may help to lessen the debt to some extent. For this there is need of private investors who would participate in this.