Following the Wall Street collapse of August 2007, Western Europe followed the United States into recession, which was alleviated by massive injections of public funds in 2008 and 2009.Now these stimulus packages are returning to haunt Western European countries. Several governments, including those of Greece, Spain, Portugal, Ireland and Italy, face mounting difficulty in paying off their soaring deficits, and there is a fear that some will default.Concern about government debt default by Greec…
