Today the Eurozone debt crisis is the subject traders and economists have been discussing most. Month by month, forecasters paint an increasingly dark picture of a situation in the EU with a collapse of the union at worst. Greece, France and Italy with its banking crisis may be the first to leave the EU due to extremely high debt levels on the global loan market.

Spain was offered 100 billion euros as a bailout, which is equivalent to 15% of its GDP. However, despite the amount is impressive, it might be insufficient to solve the troubles of the country, even though the economic recession in Spain is far from its culmination. The situations in Spain and Ireland are identical. It should be said though that the size of Ireland’s economy is eight times as less, but it has asked for 65 billion euros.

Greece has been said to be likely to quit the Eurozone, but most experts are sure it will stay. Otherwise, the crisis will totally devour it as the national government will definitely fail to cope with it alone.

As for Spain, the country needs substantial funds to revive its economy, but Germany seems to be unwilling to give it a helping hand. What Angela Merkel proposes is uniting the banking systems, which in fact means creation of a supra-national supervisor with an aim to establish German order and discipline in the banking sector of the Eurozone.

Even though such a scenario is hardly possible to implement now, it would definitely help out the indebted countries and the Eurozone as a whole.