Keeping in mind the economic and monetary affair the European Union commissioner has planned a visit to Greece to look into its cost cutting efforts.

The visit of the official is inclining the ladder of hope for Greece as Europe has offered and embraced Greece with a rescue deal. Although Germany seems to deny the news, and commented that Greece is putting its efforts to cut short its huge budget deficit.

According to the German chancellor, Greece must sort out its own problems. As they don't have the policy, which could crop the possibility of bailing out any nations.

However amongst the debt turmoil Greece has also decided to help itself and has promised that it shall reduce its deficit from 12.7%, which is approximately more than four times euro zone rules.

With rigid sources the government is deciding upon the introduction of including the freezing of public sector pay, and inclining the taxes with a change in the pension system.

The unions have busted out on the matter, conducting a nationwide strike which was held last week.

Now the debt ridden nation, Greece has to report to the EU on 16 March, for a check on the measures of trimming the budget.