The Greek debt crisis has unfolded over several years and through a litany of bailouts, parliamentary votes, and credit downgrades. Here is a brief overview of how we got to where we stand today.
As the former prime minister of Greece, my experience with the debt crisis confirms my belief that this is a political crisis more than a financial one. We have adopted a passive, almost defeatist attitude in Europe. We must break this cycle of fear and mistrust now.
Greek PM Papandreou got the backing of his cabinet to hold a referendum on EU bailout terms. He meets today with France's Sarkozy and Germany's Merkel, who have said renegotiating is not an option.