Significant changes to the conditions of returning the loan amount for Greece is the only way out of the crisis the Greek government finds itself in. This is going to be something like a change in the pension and other benefits received by retired public employees. They put a huge burden on the exchequer, to say nothing of the economy.
Officials from the International Monetary Fund and European Central Bank have been discussing details of the loan with members of the Euro zone to raise a point for debt relief in the Greek context. The monetary authorities have to consider the social and financial conditions in Greece before demanding an immediate loan recovery. It is almost five years since the first loan agreement was inked between Greece and European officials. The country seems to be gripped in tackling issues of economic recession in its own quarters instead of making efforts towards repayment of the loan.
In case Greece fails to pay u p the loan amount, it is going to have to exit the Euro zone. This is going to have even more losses for European nations.
European countries are set to lose a lot more as while Greece exits the Euro zone, it is going to push down the confidence gathered by the currency over the past years. The Euro and Euro zone were set up wit an aim to boost investor confidence in the economies of the member countries. Moreover, a default on the part of Greece is going to be a great blow to the Greek economy.