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 LOL dude.

TV license ??? What the fuck is this ?And plz spell correctly.

Really now, do u need a license to buy a TV in Finland ? Haha.

What about an vacuum cleaner ? 100-65= 35. Simple maths.Btw, MATHEMATICS = ΜΑΘΗΜΑΤΙΚΑ .

I make same money as you do ,but i m not stupid. I use my own mind and not a telly.

GET OFF YOUR COUCH.

[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!

[red33m23]

@VelvetWhore @VelvetWhore also we are not even close to being called lazy. We are actually the most hard working europeans. check the oecd stats if you don't believe me.

[red33m23]

@VelvetWhore false it is 65

[Gunnarr123abc]

the huge debt IS a problem, the inflation that it causes to print more money hurts the poor as prices rise but wages do not rise nearly fast enough, the federal reserve is not even using food as an index of inflation anymore

[StelicaVeterinar]

@VelvetWhore

65

[carltonchu1]

@sdufa chopsticks筷子 are mainly made from bamboo. Japense and Korean also use chopsticks, not just Chinese.

[MrKatzengreis]

It must be hard these days to be a Greek.......