Should Germany be bankrolling the Greek bailout?

German Chancellor Angela Merkel, left, and Greek Prime Minister Georgios Papandreou, right, shake hands at the chancellery in Berlin. (Michael Sohn/AP Photo)

In a new development in the eurozone's debt crisis, Germany has offered to lend Greece a helping hand.

German Chancellor Angela Merkel pledged to give Greece "all necessary assistance" in overcoming its debt, but added that the Greek government must fully implement all its planned austerity measures.

Greece needs an €8 billion ($11 billion Cdn) rescue loan before mid-October to stave off bankruptcy. If not averted, Greece's financial collapse would send shock waves through markets around the world.

Though Merkel has offered financial assistance to Greece, international creditors also expect Greece to find other ways to raise revenue. To that end, Greek lawmakers approved a controversial new property tax Tuesday evening.
 
Will Germany's assistance help Greece stave off bankruptcy? Why or why not? Should Germany bankroll the Greek bailout? Share your comments below.

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