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The Greek Debt Crisis Explained in Four Minutes

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Published on Apr 30, 2010

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_...


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