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Greece Debt Crisis

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by

Derek Lamb

on 30 May 2013

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Transcript of Greece Debt Crisis

HOW DID THIS HAPPEN? -Grecians have been over extending themselves for
quite some time

-After adopting a single currency, spending
increased rapidly

-Tax evasion

-Government spending

-2004 Athens Olympics Current situation -Greece has to pay around 300
billion euros €€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€ €€€ - The EU has offered them a 110 billion
euros over three years as long as they
cut spending and boost tax revenue Project By:
Derek Lamb
Kim Willig
Molly Walsh - A second bailout was agreed upon another 130 billion euros, along with a 107 billion euro debt writedown The Future There are 3 situations for Greece:

-Kicked out of the Euro

-They negotiate an exit

-They stay in the euro Current Situation Cont'd - Unemployment is at a record 26%

-1 in 3 are living on or below the
poverty line

-Close to bankruptcy
Full transcript