We will be talking a lot about the sovereign debt crisis. Itbegan in Greece in 2009 and spread to Portugal, Ireland, Italy, Spain and Cyprus. The coomon problem was excessive foreign borrowing. In Greece the crisis was precipitated by the disclosure that the outgoing government cheated and the actual deficit was much higher than reported.
Since 2008 the Greek economy shrank by almost a quarter. Now the Greek prime minister says the worst is over.
It seems that people do not believe him. Wait a second! How did the crisis start?
Since 2008 the Greek economy shrank by almost a quarter. Now the Greek prime minister says the worst is over.
It seems that people do not believe him. Wait a second! How did the crisis start?
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