By Mark Thompson
It's been three years since Greece was granted 110 billion euros in the first of two bailouts by its EU partners and the International Monetary Fund. Harsh austerity measures have driven the economy into the ground since then. Unemployment has soared. More than 6 in 10 young workers are out of a job.
But there may be light at the end of the tunnel. After six years of recession, the economy is forecast to grow again in 2014. And while Greece remains shut out of international financial markets, one of its biggest banks – Piraeus -- is convinced it can raise enough money from global investors to avoid nationalization.
Here's a look at how Greece's economy stacks up today compared to what it looked like in the last full year before the bailout.
Treasury Sec. Tim Geithner has a new op-ed in the Wall Street Journal titled "Financial Crisis Amnesia."
It starts like this:
"Four years ago, on an evening in March 2008, I received a call from the CEO of Bear Stearns informing me that they planned to file for bankruptcy in the morning."
Geithner then goes on, offering up a series of reminders as to just how badly impaired the financial system was in 2008. MORECharles Riley - Mar 2, 2012 10:51 AM ET
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