Greece on the verge of bankruptcy: Trichet pressures Papandreou

Welcome back... The economic plight of EU member country, Greece, is putting pressure on the Euro. Greece is up to its ears in debt and ratings agencies continue to downgrade its credit. The president of the European Central Bank, Jean-Claude Trichet, demanded last week that Greece pull its socks up and come up with a plan to address its budget deficit. On Friday, Greece submitted a three-year plan, approved by the Greek parliament on Thursday, aiming to cut the deficit to 2.8- percent of GDP by 2012.