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European Debt Crisis

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by

Marissa Foley

on 8 July 2010

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Transcript of European Debt Crisis

European Debt Crisis Why Did It Come About? What Nations Are In Trouble? What Is The European Union Doing About It? What About The Euro? What About Overspending? July 7,2010
Economics
Jovantai Lewis
Marissa Foley Greece
Portugal
Spain Ireland
Italy
UK
500 Million Euro-Other Countries Struggling
140 Million Euro- Greece
Greece Being Kicked Out
Many Leaders Unsure of The Bailout
4 Year Low
Dropped More Than 16%
Revert To Old Currencies
Have Greece Not Use The Euro
Could Be Gone In A Few Years EU members try to calm fears of defaulting
European Financial Stability Facility (EFSF) Governments are spending more than brought in
'08 Global crisis effected Greece
Greece borrowed a lot of money
Housing market crashes

Bibliography -Crumly, Bruce. Could Euro's Days Be Numbered? 19 February 20110. 9 June 2010 <http://www.time.com/time/business/article/0,8599,1966658,00.html>.
-Guardian.co.uk. Euro Debt Crisis- How It Happened. 10 May 2010. 9 June 2010 <http://www.guardian.co.uk/business/2010/may/10/debt-crisis-euro-timeline>.
-Harif, Tal Barak. Euro Debt Crisis to Slow Gulf Currency Plans. 2010. 9 June 2010 <http://www.guardian.co.uk/business/interactive/2010/apr/28/europe-economy-dominoes-greece-eu>.
-Matthew Saltmarsh and Steven Erlanger. Greece Debt Crisis Raises Doubts. 7 May 2010. 10 June 2010 <http://www.nytimes.com/2010/05/08/world/europe/08europe.html>.
-Paul Scruton, Simon Bowers, Simon Rogers, Paddy Allen. Euopean Debt Crisis-The Domino Effect. 28 April 2010. 9 June 2010 <http://www.guardian.co.uk/business/interactive/2010/apr/28/europe-economy-dominoes-greece-eu>.
-Whitney Kisling and Elizabeth Stanton. Euro Rally. 20 May 2010. 10 June 2010 <http://www.bloomberg.com/apps/news?pid=20601087&sid=a4mnQEVIxe48>.
-Wikipedia. Wikipedia. 10 February 2010. 9 June 2010 <http://en.wikipedia.org/wiki/2010_european_sovereign_debt_crisis>. Map of Greece Credibility is running out
Restructuring is ineitable
-0.8% GDP
Brink of defaulting
Greece Map of Portugal Portugal High levels of public and private debt
Strict government measures
-0.2% GDP
May under go restructuring Map of Spain Spain Burst housing bubblre
Next most vulnerable ecomomy
Debt is still pretty low
-0.8% GDP Map of Ireland Ireland Burst housing bubble
-2.3% GDP Map of Italy Italy Just as weak as Ireland
-0.3 GDP Map of UK UK Safe haven for investors
+0.3 GDP
People unsure if the UK can do anything about the huge deficit Euros European Union Flag
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