Yet Greece's public-finance problems were brewing long before the rich world's banks started to falter.
Greece has yet to agree its debt restructuring and the International Monetary Fund may refuse to continue supporting its bailouts.
Greece has yet to raise a single euro from fresh privatisations.
ECONOMIST: The streets of Athens are in the grip of an ugly mood
Although Greece has yet to reach an agreement with its private creditors, and the International Monetary Fund cut its global growth forecast Tuesday, "risk sentiment has received some support from better economic data out of Europe, " said Barclays Capital strategists in a report.
Hopes for a flood of Chinese capital into Greece have not yet materialised.
ECONOMIST: Capital and companies from China are sidling into Europe
This week the commission nodded through yet another subsidy, to Greece's Olympic Airways.
Yet the economy, unlike Greece's, has not gone into recession: it is expected to have grown by 2.5% in 2011.
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Contemplating the dread consequences of such a disintegration may yet prompt concessions from both Greece and its creditors that prevent the worst happening.
ECONOMIST: How much do Greece and the rest of Europe stand to lose?
Taken with the concessionary terms agreed on in July, the package gives Greece its best chance yet of emerging from the crisis.
Yet for almost two years tiny Greece has had the entire world trembling in fear every few months, world markets in confusion, and world leaders rattled.
Yet again, the future of Greece hangs in the balance, as the Greek people wonder how much more pain they will be asked to endure and for how long.
The growing social tensions in Greece mean its politicians cannot embrace yet more cuts with much enthusiasm.
Yet if high deficits were the answer, Greece and Spain should be booming.
Although Greece, Romania and Lithuania have yet to sign up to the findings, non-EU states Croatia and Liechtenstein have done so.
Yet even stronger medicine would be required if Greece left the euro.
Yet this game can be played only if Greece makes a reasonable show of complying with reforms, which Greek voters are making almost impossible.
Despite a deep recession and surging unemployment, Greece has been forced to take yet another austerity package in exchange for the latest tranche of bailout money.
Europe's leaders will be asked yet again what they are going to do with Greece.
Greece is not expected to default, yet, along with Spain, it continues to totter on the brink.
FORBES: Apocalyptic Financial Horror On Deck If Europe Fails
And as I mentioned yesterday, yet more EFSF money may have to go to Greece to prevent it defaulting.
Greece and its private sector creditors have yet to agree on a plan to write down the nation's debt by 50% -- a measure austerity-hit Athens needs to secure additional bailout funds and avoid default on bonds due in March.
Either way, Sir Mervyn noted that Greece has a solvency problem that has not yet been solved.
Private bondholders have yet to agree to terms of a debt swap with Greece, and have until Thursday to do so before triggering a messy default.
Yet unemployment is close to 27% in Spain and Greece.
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The German chancellor, Angela Merkel, has considered the possibility of Germany providing bilateral help to Greece, though she insists she is not yet ready to talk about aid with Mr Papandreou.
There is yet another EU official meeting Monday to address the situation in Greece and other financially troubled EU countries.
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