Greece’s debt crisis was so daunting that European leaders recently issued a second bailout – a drastic move that French President Nicolas Sarkozy said the European Union wouldn’t do for anyone else. For a time, the country even looked like it might default as its efforts to pass an austerity budget requested by the EU brought Greeks out into the streets in violent protests.
European leaders called the agreement that led to the second bailout a turning point in the eurozone’s financial crisis.
As of April, Greek debt was 152 percent of its GDP.
