Future of the Greek economy and the European debt crisis are part of an analysis within "The Journal of the American Enterprise Institute".

In reference to the Greek economy, author Desmond Lachman said it is possible that debt restructuring may be necessary.

In addition, as the IMF continues to demand stricter austerity measures for the country, Greeks will likely continue to protest and the government of Papandreou could fall by 2012.

He believes that the economic crisis in Europe will be aggravated. As a result, defaults will be declared during the next six to twelve months in European countries.

European banks are facing terrible problems due to the 2 trillion dollar debt of Greece, Ireland, Portugal and Spain, countries that are likely to suffer great loss due to the public debt they hold.