Greek Financial Meltdown

In the name of Allah The most Compassionate The most Merciful

Let's all started with Greek economy who's in the brink of bankruptcy and has to be bailed out by the EU. There are several lessons to be drawn from it.
EU was formed amidst the rife of Asian financial crisis in the mid 90's. It was formed solely for the purpose of fortifying EU against often-most frivolous market speculators. Asian market was enjoying increase on it's economy especially in the area of exports and investments. This economic clout emboldened most of Asian regions to undertake excessive loans which amounting to billions in the form of greenback as lending in the form of dollar was deemed cheaper than their own respective currencies. Buoyed by booming market confidence, massive risk taking was viewed necessary for the sake of growth. But Asian market didn't see a pack of opportunists speculators coming their way. These speculators homed in on Asian vulnerabilities in its regions ability in paying back the loans. What happened was these bunch of bettors placed a bet on which Asian region would default on its payment of loan. As we know in the sensitive and complex nature of market (shares, stocks , and other derivatives), investors were very much wary about the news and it's inexplicably affected the share values in Asia to plummet which inexorably saw Asia to be embroiled with massive financial crisis. Each Asian region tried to divert the attention of the bettors and tried not to make themselves the target of speculation by adopting the policy of "beggar your neighbor" by helping their neighbor by the provision of credit, but well they're still targeted nonetheless.
From this experience, EU was formed to make various European currencies into one- Euro as to safeguard the EU against such speculators that could undermine their economy. By far, new EU policy of adopting one single currency (with great Britain as an exception) with low credit rating between members would be a perfect way out, and huge crisis in the future that could shake the entire members would be very much unlikely. But what we see today is a stark contrast of any optimistic predictions cast over a decade ago.
In the beginning, it all runs well. With Greece enjoyed the benefit of being member, its shipping and tourism sectors were practically flourishing. Its economy was expanding in a rapid growth. EU felt secured and thought nothing bad could come their way. Very much in a state of complacency. However, after the 2008 US recession which saw the slowing down of credit and investments worldwide, Greek was adversely affected. It was revealed that Greece suffered a deficit of 14% of its GDP with amounting public debt of 115% from its GDP. It needs bailout asap, otherwise the country is going to be declared bankrupt.
The main problem of Greece is that to be a member of EU, it had to have a deficit of at least 3% from its GDP. What it did to be a member was massaging the numbers in its ledger account to get them balanced. Another thing was it was full of corrupt government officials with low productivity but receive overpay wages. These factors coupled with small government income from tax as many people especially the riches evading paying the taxes by not declaring their income were a good combination that force Greece to reel.
Knowing the truth about this angered EU so much. But by not helping Greece could only mean the crisis might spread out to other EU weak members (Ireland, Portugal, and Spain) and would potentially bring about potentially catastrophic destruction of EU economic integrity and sovereignty. So in the end, other wealthy EU members were prompted to create a help body wichh oversee a provision of 110 billion euro access fund for troubled members and special fund for Greece with conditions imposed: Greece has to reduced its deficit by curbing its spending on armed weaponry and laying out 10,000 workers from the bloated government institutions, effectively pulling out any bonuses and pensions benefits. It also has to increase the income by increasing the tax revenues and penalizing the tax dodgers. Of course not without civil unrest and mayhem ensue.
Speculators with its opportunistic nature right now seizing this moment on betting whether Greek would be able to withstand this austerity measure and pull it through or it would perpetually default on its payment. Alas, for right now, investors are increasingly jittery, a mere blow could impact future European market. Share prices right now nosedive into God knows how many points and Euro currency seeing its weakest points in history. Numerous measures about EU policies and its stance on recalcitrant members are viewed with weary interest by the investors and economy analysts alike.
The point right now is that, nothing is definite. Universe is governed by some invisible and uncontrollable forces that beyond humans power to oversee or prevent or comprehend despite more advanced and sophisticated state-of-the-art technologies in this era. Qoran has clearly admonish the people to stay away from greed and to spend on the charity of Allah. And interest loans in the form of stocks or derivatives or usury are clearly forbidden.

"Lakhaula walaakuwwata illabillaah" - there's no other power greater than Allah. No one could intercede or change Allah decision or will. Everything simply happens by the leave or permission of Allah. I bear witness that Qoran was sent down by Allah to His messenger Muhammad (peace and blessing be upon him) and it is stating the truth. I bear witness that there's no other God worth worshiping beside Allah. He is the One and only. And Muhammmad Rasulullah was His final messenger. Ya Allah in you I have faith and believe in. Please guide and protect me from the eternal hellfire. Amiin.