EU suffers from Greece's Debt

(Image to the left from NY TIMES)
The European governments are being criticized for how they handled the debt crisis in Greece. Germany's reluctance to support the bailout has led to four month delays that have caused Greece's debt to spiral out of control and some say beyond repair. There is a fear that by the time a bailout plan is in effect, Greece might never be capable of paying back its loans to the countries that helped them.

The debt problem has begun to threaten other indebted countries in the E.U. and managed to lower the value of the Euro significantly. Spain and Portugal are already suffering from the Euro's diminishing value. The exchange rate between the Euro and the U.S. dollar was 1.49-1 just five months ago, but has dropped to 1.22-1.