Is Greek economic package good for Europe?

It means that already struggling nations who are themselves feeling economic and social pain are yet again having to bail out pure negligence and incompetence when they themselves can least afford it and when it means each contributing country are themselves getting further into debt which may result in similar damaging market consequences as is recently experienced with the Greek economy and its national debts.

The reality is that everything in life is ONLY as strong as it's weakest point, whether it is the space shuttle that exploded on take off with loss of life, the Titanic, or the European Community or the ERM money system.

The fact is the European Community has more than just one weak point; rather it has multiple weak points. The markets know this and they will play on this fact to maximise their profit taking by using this opportunity to rake up interest rates which I very much doubt will stop at Greek borders.
What also needs to be remembered is that it was the negligence of the financial markets that have basically pushed many nations to the precipice of bankruptcy who were forced to take on even more debt to bail out banks and prevent a total banking collapse.

Just guess who is profiting the most from this situation, only one chance to answer. Yep, the banks/financial sector and the main parts of the profits are coming from investment in GAMBLING, which was a central reason for this whole economic catastrophe.

I think that the only way to get out of this is to place large levies on the banks/financial sector, to pay for the mess they have inflicted upon nations and the world.
UK bank bonuses were around £40billion for financial year-end 2010. If a levy of £15 billion were put upon UK banks for the next 5 years then this would still leave banks with a £25billion bonus pot each year, at 2010 rates when banks were supposedly doing very badly, but it would mean that the UK would not have to slash expenditure and jobs and destroy lives and communities.
I think Greece should do the same, and so should all European countries. We need to take back the money used to bail out the financial sector, just as the financial sector is now demanding the same of Greece and other nations. If banks can afford to pay £40 billion in bonuses just in the UK, then they can afford to pay for the collateral and consequential economic and social damage caused by their malpractice and negligence.

Why should businesses and public services in Greece and UK and elsewhere have to bargain and plead wage reductions while banks continue to pay extra bonuses?
Also, if BP can be made to pay for it's role in the USA oil slick, then USA credit rating agencies should still be fully liable for the false and fraudulent products they had a major part in selling to the worlds banks, including Greek and UK banks and which credit rating businesses are actively and currently involved with downgrading Greek and other nations debts while forcing massive interest payment hikes which profit the same gambling financial businesses who were profiting from gambling on the sale of the initial fraudulent products.
It is immoral that those who were involved in instigating this world economic and financial catastrophe are now among those who are benefiting and profiting the most.
Greece is currently the weakest link, and like most predators the banks and financial gamblers go for the easiest prey. The Euro zone has already thrown £100 billion into the pot, this £100 billion is basically to ensure Greece can pay its debts with extortionate interest rates, and is basically endorsing further continued atrocious behaviour by those banks and gambling institutions who will demand and seek to squeeze every last drop of money they can, not just from Greece, but from the Euro, the ERM, and the European Community as a whole and also, at some point, the UK and the taxpayers.

Greece is just a small part of the whole and now the international credit rating agencies and their friends and partners in banks and financial gambling institutions have got a taste of blood money, I doubt very much that they will fade away content, and will just seek to carry out the same undermining tactics as used upon Greece, with other weaker Euro nations, even if it is just to see how far the EU will go before saying NO.
These financial businesses are about to wreck more financial havoc on Portugal, Spain, Italy, Ireland and UK.
To me the more apt and relevant and factual words that describe this current world financial catastrophic situation would be to describe current events as "FINANCIAL TERRORISM" and it is also a war of financial attrition and domination.
Greece is in this up to its neck due in part to its own negligence, but this does NOT and should not hide the fact that behaviour of banks etc has pushed Greece into the precipice, which could have been avoided, but is more profitable for banks etc.
What is happening with Greece I think will be repeated with other countries, where it ends, no-one can know, but it will ultimately make our world much more fragile and may ultimately cause serious fragmentation of many national relationships and expose and create economic, social and military dangers that we thought were left behind in 1945 and pre 1939.