Why Does Greece Have So Much Debt?
Subscribe! http://bitly.com/1iLOHml With about $400 billion in debt and a broken economy, Greece is in trouble. But, how did Greece end up with such a high debt, and who do they owe money...
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Greece is currently about 400 billion dollars in debt. That’s about 170% of their annual Gross Domestic Product. Over the next 50 years they are scheduled to repay that debt. But with the economy in shambles, many experts wonder if that goal is really attainable. But how did Greece end up with so much debt in the first place? And to whom, specifically, does Greece owe money? Greece became somewhat politically and economically unstable back in the 1970s after an attempted government coup. Nevertheless, after a profit spike in the 1990s, they met the fiscal requirements to join the Eurozone, in the year 2000. This event inextricably tied Greece to stronger economies like Germany and France, and allowed Grecians more access to low-interest loans. So, public spe...
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Greece is currently about 400 billion dollars in debt. That’s about 170% of their annual Gross Domestic Product. Over the next 50 years they are scheduled to repay that debt. But with the economy in shambles, many experts wonder if that goal is really attainable. But how did Greece end up with so much debt in the first place? And to whom, specifically, does Greece owe money? Greece became somewhat politically and economically unstable back in the 1970s after an attempted government coup. Nevertheless, after a profit spike in the 1990s, they met the fiscal requirements to join the Eurozone, in the year 2000. This event inextricably tied Greece to stronger economies like Germany and France, and allowed Grecians more access to low-interest loans. So, public spe...
