Add this to the list of reasons German taxpayers are unhappy about having to lend Greece money to ease its debt crisis: In effect, they already have, The New York Times reported.

Many observers assign a large part of the blame for the 2008 financial crisis to the "big three" credit rating agencies, which gave their AAA seal of approval to worthless investments. Now those same agencies are helping to bring the euro zone to its knees -- and no one is trying to stop them, Spiegel Online reported. Wherever things blow up in the financial world, the rating agencies' tracks can be found. The anonymous analysts of S&P, Moody's and Fitch (the smallest of the "big three") were center stage during the global crash.

Greece's request for aid from the euro zone and the IMF will provide only temporary relief, The Economist reported. Greece’s prime minister, George Papandreou, faced the television cameras on Friday 23rd April to anounce that his government would draw on emergency aid to tide it over for the rest of the year. Mr Papandreou decribed the rather embarassing request to to other euro zone members and the IMF as “an extreme necessity.” This followed a week in which yields on Greek bonds reached an alarming 8.9%.