2011 top story 4 eruo meltdown

Greece is on the brink of meltdown due to spiraling debt, and the deficit crisis is continentally contagious. Last year, the International Monetary Fund bailed out Greece to the tune of 110 billion euros, contingent on the implementation of strict austerity measures. On the heels of this dramatic action came bailout packages for Ireland and Portugal. And the Greek tragedy is far from over as the debate over whether to accept debt-forgiveness conditions upended the government in Athens. Furthermore, other debt-laden European nations risk going under. This year's euro crisis saw the downfall of Italian Prime Minister Silvio Berlusconi's government, and continued huddles by other European leaders over how - and whether - the euro can be saved.