Is Greece going to be kicked out of the EU?

The last I had heard, the European Union refused to allow Greece to leave. It is my understanding that Greece wants out to help recover it's economy.

Greece is not going to be kicked out of the EU simply because its economy is failing. Greece is not the only EU member with strong economic problems. Spain, a much larger economy, is on the brink of becoming another "Greece". Greece has been bailed out, so its economy is given time to recover, in which its debt rate has fallen 40% due to the German bailout.

Again, just because Greece's economy is failing doesn't mean they will be kicked out. In fact, it means the opposite. Greece is top priority for the European Union now, and every member is helping to keep Greece afloat. The EU, being a supranational organization, has all its members economies intertwined, so all members must work together to sustain each others' economies. The total destruction of the Greek economy will harm the entire world, but simply leaving the EU won't help the situation, it would worsen it.