Greece came first when both the International Monetary Fund (IMF) and the European Central Bank (ECB) came up with a rescue plan of almost 110 billion Euros. Greece’s debt burden approached 150% of...

Greece came first when both the International Monetary Fund (IMF) and the European Central Bank (ECB) came up with a rescue plan of almost 110 billion Euros. Greece’s debt burden approached 150% of its GDP and the severe austerity measures put in place were designed to reduce the country’s excessive spending and raise its revenues.