After Greece, Ireland and Portugal, it's now the turn of Spain to seek shelter under the Eurozone bailout scheme. Madrid is to receive support worth up to 100 bn euros, in order to save its tottering banks. That news alone was enough to calm the markets - at least for a moment. Investors and politicians have breathed a sigh of relief, the crisis appears to have been averted for the moment. But the sceptics are in the majority; many point out that only 250 million euros remain in the EFSF bailout fund, but Greece too will need a lot more support than that. What if Italy also needs help? Is there an end in sight to the bailouts?

Spain is troubling, but it is Greece that remains the deepest source of concern for Brussels. As Greeks prepare once again to cast votes in a national election, polls suggest support is split almost equally between the conservatives of Nea Dimokratia, and Syriza, the radical left alliance. It seems there will not be a majority for any likely coalition. The result would be an ungovernable Greece. There is still a slight hope that a government composed of conservatives and socialists could get one final chance to tackle the crisis. And that might be the only way for Greece to stay in the Eurozone.

Tell us what you think: Europe at the Crossroads - Which Way Will Greece Turn?

Send us an email: Quadriga@dw.de

Ursula Weidenfeld – has a PhD in history from the University of Bonn and studied journalism at the Holtzbrinck School in Düsseldorf. She became Berlin correspondent and a deputy editor at Wirtschaftswoche, before going on to head the corporations desk at the Financial Times Deutschland. In 2001 she became economics editor at Der Tagesspiegel in Berlin. Ms Weidenfeld has also worked as a presenter and commentator for various TV and radio stations. In 2008 she became editor of the Cologne-based business magazine Impulse; before resigning earlier this year. In 2008 she was awarded the Ludwig Erhard prize for business journalism. Ms Weidenfeld is now a freelance journalist, working in several media and in internet with www.starke-meinungen.de and www.das-tut-man-nicht.de

Quentin Peel – he is international affairs editor of the Financial Times. He is also an associate editor, responsible for leader and feature writing. He is working at the FT since 1975. Between 1976 and 1994 he served successively as southern Africa correspondent, Africa editor, European Community correspondent and Brussels bureau chief, Moscow correspondent, and chief correspondent in Germany. On his return to London he became foreign editor. He took up his present position in September 1998. He was born in July 1948 and educated at Queens’ College, Cambridge, where he studied economics, with French and German.

George Th. Mavrogordatos – He was born in Athens and completed his undergraduate studies at the University of Athens, receiving degrees in Politics and Economics, and in Law. Thanks to a Fulbright grant, he received his M.A. in Political Science from Purdue University in the United States, and his Ph.D. in Political Science from the University of California, Berkeley. At the University of Athens he teaches Modern Greek History and Political Sociology, as well American Politics. He has also been a Visiting Professor at the University of Salzburg, the Johns Hopkins University Bologna Center, and the University of California, Berkeley. His books include Stillborn Republic: Social Coalitions and Party Strategies in Greece, 1922-1936, for which he received the Woodrow Wilson Foundation Award of the American Political Science Association.