Image by Lefteris Koulonis
Greek debt crisis is no Argentina rerun: bank report
ATHENS (AFP) – Greece’s debt woes which have raised fears of bankruptcy bear key differences to Argentina’s 2001 financial collapse which many analysts expect Athens to emulate, a major Greek bank said on Monday.
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In which John explains the Greek debt crisis, which has pushed the Greek government close to defaulting on its loans, the reasons why the Euro zone and the IMF are desperately trying to bail Greece out, and what the rising cost of sovereign debt means for the massive budget deficits throughout the developed world. Thanks to Karen Kavett at www.youtube.com for the illustration. Debt Chart: en.wikipedia.org