Germany, France Disagree Over Emergency Aid

While the nations across the world are waiting for the European debt crisis to come to an end, a recent report of rift between Germany and France has put a question mark over the future of cash- crunched Greece.

Though France has refused to confirm any clash of interest over the utilization of euro zone's 440 billion rescue fund, it has been indicated by a senior EU diplomat that there is a simmering disagreement over the same.

It’s being believed that France is of the opinion that the EFSF should be used for recapitalization of banks, while Berlin is adamant to keep it as the last option.

"The bottom line for France is the AAA, and that's why they are pushing to do it (recapitalization) through the EFSF”, said the EU diplomat.

Despite all these contrary reports, it’s being largely focused that the looming crisis over Greece should be dealt with utmost priority lest it could put the global economic recovery under doubt.

Apparently, it has been confirmed that close discussions over the same are being going on between a team from EU and IMF and Greece so that the global concern can be managed before it’s too late.