Europe is a big importer (consumer) of goods and a recession could hit hard global export economies. Greece was the first country to run into servicing difficulties and it sought the assistance of the...

Europe is a big importer (consumer) of goods and a recession could hit hard global export economies. Greece was the first country to run into servicing difficulties and it sought the assistance of the International Monetary Fund, in agreement with the European Central Bank (and European Union leaders, most notably Germany).