The Greek Debt Crisis Explained in Four Minutes

In which John explains the Greek debt crisis, which has pushed the Greek government close to defaulting on its loans, the reasons why the Euro zone and the IMF are desperately trying to bail Greece out, and what the rising cost of sovereign debt means for the massive budget deficits throughout the developed world.

Thanks to Karen Kavett at http://www.youtube.com/xperpetualmotion for the illustration.

Debt Chart: http://en.wikipedia.org/wiki/File:US_Federal_Debt_as_Percent_of_GDP_by_Presid...

Category:

News & Politics

Tags:

• greece
• financial
• crisis
• europe
• euro
• currency
• economics
• finance
• money
• sovereign
• debt
• nationalism
• international
• monetary
• policy

[Turoyan]

I believe that Greece will fix its economy soon.I personally hate this european union crap.I hope everything is gonna be okay soon.I am a Turk by the way and I know we loose a lot of money and efford for military equipments instead of working for education and art.They spread hatred between our countries and make us their slaves.I love Greece and Greek people a lot.Don't let capitalist use us, fool us.Best wishes from Turkey my Greek friends!

[texniki1]

HENRY KISSINGER

The Greek people are anarchic and difficult to tame. For this reason we must strike deep into their cultural roots: Perhaps then we can force them to conform. I mean, of course, to strike at their language, their religion, their cultural and historical reserves, so that we can neutralize their ability to develop, to distinguish themselves, or to prevail; thereby removing them as an obstacle to our strategically vital plans in the Balkans, the Mediterranean, and the Middle East.

[angbelmon]

@Turoyan

We feel the same too!

Greece is not only a land, or an economy!

It is an idea.

Whoever knows the history origins, should know that.

Thank you!

[busybuzz83]

Greece was never a "fancy pants" Country. hahaha

[MrKatzengreis]

Good luck Greece......

[mpogias13]

@masgoldenful You should watch the documentary "Debtocracy". Its new and free, you can find it with english subtitles on YouTube. Explains a lot about the Greek debt crisis, Eurozone crisis, Germany's development and the global capitalist crisis in general.

It's worth your time.

[RodaSmash]

Needs more peanut butter face imo..

[DragonkilerGREECE]

to deserve this hatred? i myself nothing at all. i see myself in 10 years either in some european developed country or here working 11 hours a day for 1000 δραχμές 1 euro used to be 360 δραχμές but i guess its gonna be 1= 1000 now. without medicine, a decent car or even a BIKE as none will be inporting from other countries. so thats how it feels to be in this situation. im gonna end up a slave in a chinese factory.

[DragonkilerGREECE]

so im from greece im 14 years old i have about 36k euros debt just beacause the previous generation Fucked up. so, i get that people especially europeans dont want to help greece bacause that equals many sacrifices from them as well as from us. now people think that greeks are lazy guys or that they are thiefs of their own country. neighbooring countries like albania, ''macedonia'' and most of all turkey would exterminate greeks if they had the chance (which is cmin). what have > I done

[Eyrynomos]

@masgoldenful

That's bullshit.Even Turkish people work harder than the Germans, yet I do not see them set as an example.Of all the EU countries, full-time workers in Austria and Greece work the hardest, completing an average 43.7 hour working week, followed by those in the UK.

[ffnrr]

@seaquest123007

Eww! Are you mad? :D  hahahaha lmao

[seaquest123007]

@ffnrr my balls dont fit in your big fucking mouth ...i just did not want enything to do with an ass hole like you..you fucking dush bag fuck off!!!!!!!!!!!!!!!!