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Greek Financial Crisis

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Latest Activity: Jun 3, 2010

The Greek/Global Financial Crisis

A hidden debt has finally caught up to Greece, and now the EU is making an effort to save the country from bankruptcy in fears of the effect that would have on the Euro. However, these measures are being met with great resistance by the Greek civil workers who liked being able to retire at 55 and collect huge retirement pensions. This week let's talk about what's going on, what the EU should do, how this effects your country, and what this should teach us about the financial system. Perhaps now is the time to look at things like local currencies, micro-financial systems, and other innovative ways to lessen our dependence on currency.
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Current News

RespcetedOpinions Discussion - Would the same approach that's being taken in Greece work elsewhere (like the United States)?
MarketWatch story - European shares surge after support package agreed Gains in Europe add to global stock rally; euro climbs versus dollar
RespectedOpinions Discussion - Is the bailout working?
Christian Science Monitor Story - To contain the Greek debt crisis, EU needs to guarantee lending to all members in exchange for austerity measures.
BBC Article - EU finance ministers have agreed on emergency measures worth 500bn euros (£430bn) to prevent the Greek debt crisis from affecting other countries.
Guardian article - The Greek spirit of resistance turns its guns on the IMF...Years of national denial about looming bankruptcy have turned to resentment as Greece is told how it must tackle its debt crisis
BBC article - EU finance ministers to debate 'stabilisation fund'
Guardian article - Alistair Darling joins EU plan to rescue sinking euro (Chancellor to keep Osborne and Cable in the picture as Britain is pressed to join emergency action on EU debt crisis)
Video showing the riots going on in Greece. Amazingly unstable conditions...and one of the people asked about why they're rioting a 55 year old man said he thought he should be able to retire now....
New York Times Article - Greek Debt Woes Ripple Outward, From Asia to U.S.
Bloomberg Businessweek Article - EU to Set Up Fund to Prevent Spread of Greek Crisis
BBC Article - Eurozone leaders approve Greece aid package
Reuters Article - G7 watching Europe, market volatility with concern
Christian Science Monitor Article - Greek debt crisis begets euro crisis. How much is it fear driven?
Guardian Article - Euro crisis goes global as leaders fail to stop the rot
Blog by Paul De Grauwe - He wrote this blog in December 2009 and gives a great background of the current situation.

Discussion Forum

Did 2004 Olympics spark Greek financial crisis?

I just read this article which makes a case that the 2004 Olympics may have started the catastrophe going on in Greece now. With a cost over $12 Billion to put on,…Continue

Tags: olympics, crisis, financial, greek

Started by Nicholas Nagao Jun 3, 2010.