With a deficit more than 4 times the European Union limit and an economy mired in a deep recession, Greece hurtled towards insolvency.
Then-Prime Minister George Papandreou assured the world Greece was determined to confront its fiscal problem.
“We are making deep changes in our economy, our political system, our society, building the conditions for a stable economic environment, a transparent economy, a viable economy,” he said.
But those promises proved futile. FULL POST
What recession? With BSkyB vastly increasing the price it’s willing to pay to show England's Premier League football matches, the 20 teams that make up the league have ever more money to attract top talent.
But are people like me, who pay near $100 a month for Sky, going to have pay more to watch the matches?
Sky says no. It’s believed the satellite channel, partly owned and controlled by Rubert Murdoch's News Corp., will instead cut costs and services elsewhere in order to keep its overall costs from skyrocketing just to air football.
I say ‘just’, but really Sky has been all about football - it helped create the Premier League 20 years ago, and pubs and many people (like me) pay a subscription to be able to watch sports which have moved from free-to-air to pay TV in that period. FULL POST
About Business 360
CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.