Is Greece's Debt Trashing the Euro?

Even those who support Greece's socialist government are expected to go on strike next week to fight the country's new government who plans to cut public wages and pension payments which make up 51% of its budget. If investors don't buy 53 billion euros of government debt this year, Greece may have to get bailout from the European Union or the International Monetary Fund. Greece is in trouble because over the past decade, they took full advantage of a strong euro and low interest rates which led consumers and the government into debt. The euro is now down 5% against the dollar this year. Greece, Spain and Portugal are just recently feeling the worst damages caused by the recession that many countries have been dealing with over the past few years.