The issue of providing aid to Greece has become litigious as European leaders are trying hard to resolve the problem and reach a definite conclusion. However, leaders don't seem to see eye to eye on the matter.

Paris and Berlin are divided in opinion. France and Germany are the main powers in the European Union.

While France wishes to pledge economic support to Greece, Germany, on the other hand, views that Greece should take the aid of IMF instead of depending upon the European Union for a bail out.

A Spokesperson for Nicholas Sarkozy, President of France, said that it is the responsibility of the Eurozone to reinstate the confidence of investors and reduce Greece's borrowing costs.

The EU Commission President Jose Manuel Barroso declared that it is vital that Europe pilots initiative to resolve Greece's debt crisis.

The European Central Bank President Jean-Claude Trichet goes on further to add that the involvement of IMF would be inappropriate.

However, Germany does not seem to think that the intervention of the Eurozone is necessary. It believes that it would be better for Greece to seek the aid of the IMF.

There are some policy makers who are of the opinion that if the country cannot refinance its loans it should "then do what every defaulter does - just declare bankruptcy. There is absolutely no need to think about aid".