Monday, September 26, 2016

Greek Economic Crisis

Greece is dealing with a huge drop from the economy,  one of the hugest recessions in history 2010. During 2003-2007 there growth rate dropped to 4%, in 2009 there recession began, nothing was working despairs from this economy crisis, parts of the situation begin to get worse, Athens failed to adress a growing budget for there economy to be at a good standing, Greece took an option  connect with the EU (European nation) but that didn't work out, they threw in another growth budget  because they felt it was going to make a change but only 3% wasn't enough to match the 15%  so from then it became hopeless. the reason their in such huge debt is because they where borrowing money from European national banks and their government showing poor action towards fixing the problem.    

https://www.saddahaq.com/greece-debt-crisis-things-to-know-about-the-economy-collapse-in-the-south-east-european-country

https://www.youtube.com/watch?v=KC3gJYoEMiY&t=3415s