The conditions in Greece are now hopeless, and are likely to lead to further defaults and a withdrawal from the eurozone. Spain, too, is in serious trouble, owing to the budget deficits of its traditionally independent regional governments, the weakness of its banks, and its need to roll over large sovereign-debt balances each year.
三个小国（希腊、爱尔兰和葡萄牙）已被迫接受来自IMF的援助，实施痛苦的收缩性财政削减。希腊则完全看不到希望，可能会出现进一步违约甚至退出欧元区。西班牙也陷入了严重的麻烦，因为其传统上拥有自主权的地方政府预算赤字太大、其银行太过疲软、其主权债务余额每年都必须大量展期。