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

[sdufa]

@keijoPC Dude, 65%of everyone's language in the world is coming from Greek origin.

Yes,u invented ski jumping.U must be really proud.WTF

Greeks are not thiefs.We work more than any EU citizen and i can speak with data and numbers.U?Still watching TV.

If you cant regard what Greece gave to the whole world,u need help.ASAP.

Greece is the part of a banking experiment.

If banks collapse here, in less than 1 year,the banking system will fail.

PS.Chinese are still eating with wooden sticks.

[sdufa]

@keijoPC What a joke. We let banks print the money and lend it to us, repayable with interest. It's a mathematically closed system with collapse built in. So it goes on. I wish it would just hurry up and totally collapse; hopefully then this will help people to see a better way. We could choose to print it ourselves at no interest. We've created a rod for our own bank, and as long as we remain IGNORANT this will persist.

[TheGreatTamara]

Great video, but... My name isn't Hank...

[FluffyBuurger]

I just wanted to say thank you for this video... I am suppose to be writing a paper about the Greek Sovereign Debt Crisis for my honors macroeconomics class, and so I looked it up on YouTube when I got tired of reading about it in paper and news articles. So then I found this and subsequently spent all last night and this morning watching your videos instead of doing my paper. You guys are hilarious!

[rithem412]

@sdufa -Your assertion about 65% of languages coming from Greek contradicts the modern understanding of the origin of language. Most European languages do not originate from ancient Greek. Instead all modern European languages including modern Greek and some languages of the near East originate from a common proto-European language.

[TickTockTimeTraveler]

@DonSlipDubO55 John's too busy writing some of the best teen fiction novels in the universe to even consider becoming in charge of something political. Other than the kingdom of Nerdfighteria, of course. C;

[DonSlipDubO55]

I Like this GUY.... Fire ben bernanke and hire him.... just maybe they'll cut out so many prisons and cut cocaine sales in the United Snakes of ameriKKKa.... because the president doesnt have power

[kurdishgeneral]

you gotta put in mind that america is not greece. the whole world buys from america and america is a major exporter in the world. greece is not. but i believe greece will be ok and recover. after all,they are greeks. they are heroic people. greetz from kurdistan

[hahahip1]

oh....-_^ Greece 4 ever !If you don't think this come in Greece and see!See the greeks!!!!!They work all the day!! ..............................­.................... :( I'm for Greece and for me is the best country in the world because the people here are working very hard!We have heart♥

[Ismaak5]

@VelvetWhore Cotton, Smoke, Milk, Meat, Fish, agricultural products and many more! Just because we don't have heavy industries doesn't mean we don't produce anything? Where to you think your band aids come from stupid? Just because we don't produce cars doesn't mean we don't produce. Ignorant idiot! You might want to take a look on what others owe before u speak. Go to bbc site and search for "Eurozone debt web: Who owes what to whom?"

[Blackphoenix1155]

@VelvetWhore @VelvetWhore HAHAHA GREEKS RETIRE AT 55?FOR REAL ARE YOU MENTALLY CHALLENGED THE GREEKS ARE THE HARDEST WORKING PEOPLE IN ALL EUROPE THE WORLD YOU KNOW TODAY WOULDN'T EVEN EXIST WITHOUT THE GREEKS SO PUT THE SHIT BACK IN YOUR ASS AND LEARN THE FACTS BEFORE YOU TALK ABOUT THEM!