Many analysts also doubt whether the economic reforms that are part of the bailout program can really restore a country that is facing a fifth year of recession in 2012, and whose economy shrank a massive 7 percent in the fourth quarter of 2011 compared with a year earlier.
In a TV interview Monday night, German Finance Minister Wolfgang Schaeuble stressed that Europe was doing everything to help Greece to avoid bankruptcy, "but Greece itself of course must want that."
If Greece were to default on its debt, Europe "is better prepared now than two years ago," Schaeuble told German public broadcaster ZDF.
Other officials, however, are still warning that a default could have unexpected consequences for the rest of Europe and the world economy.
"Right now, practically all the pieces are in place (for a bailout deal)," Angel Gurria, the head of the Organization for Economic Cooperation and Development said Tuesday. But if it unravels, "although we are better off today than we were two years ago for that kind of scenario, we really don't know which unexpected consequences may happen."
He said that squabbling among policymakers was creating unnecessary harm to broader financial sentiment.
"Don't allow any holdout to blackmail the world economy to continue paying a very high price for the uncertainty."
In addition to the assurances of party leaders and the demand for euro325 million in savings, the eurozone and the IMF also want Greece to actually implement euro2.6 billion ($3.45 billion) of the promised spending cuts and reforms before the bailout money can be released, according to a draft document obtained by The Associated Press on Tuesday.
The measures — which range from getting tougher with tax evaders to cutting prescription drug budgets — are part of the large austerity package that the Parliament in Athens passed over the weekend.
But even in Germany, traditionally one of strictest countries when it comes to Greek budget cuts, some lawmakers are having doubts whether the bailout program will actually work.
"We have to be honest. Greece will need our support for many years, for at least a decade, financially and administratively," Priska Hinz, the opposition Green Party's top member on the Budget Committee, warned.
Europe must also push ahead with measures to spur growth in Greece, Hinz said. "People need to see light at the end of the tunnel."
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Baetz reported from Berlin. Elena Becatoros in Athens contributed to this story.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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