Greece asks for EU-IMF bailout

What many fail to realize or acknowledge is that the US, with its controlling interests of the IMF, will be sharing the burden of the Greece bailout. The bailout of one weak EU nation implies that others will soon follow. As long as the State, or combination of States (EU/IMF) can issue debt, no one will be allowed to fail. Cascading State failures were common in early 1930’s, but few are drawing these comparisons today.

Greek Prime Minister George Papandreou called for the activation of a joint eurozone-International Monetary Fund financial rescue to pull his country out of a major debt crisis.

Source: finance.yahoo.com