Connect with us

Hi, what are you looking for?

Athens Times

Why The Eu Must Help Greece

ATENAS: MUSEO ARQUEOLOGICO. Antinoo de Bitinia, en Asia Menor. Busto de mármol procedente de Patras. 130-138 d.C. III2009-05-26_14-27-59
Greece Asia
Image by vicguinda

Why The Eu Must Help Greece

Why The Eu Must Help Greece

Free Online Articles Directory

Why Submit Articles?
Top Authors
Top Articles
AB Answers

Publish Article

0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest

Login via

My Home
Sign Out



Remember me?
Lost Password?

Home Page > News and Society > Economics > Why The Eu Must Help Greece

Why The Eu Must Help Greece

Edit Article |

Posted: Jun 25, 2010 |Comments: 0


The Greeks are catching a lot of flak at the moment for their massive national debt problems, but most of the countries giving them grief should look in the mirror. They might notice their own debt is massive as well. Given this, why are the willing to help the Greeks?

The numbers from Greece are not good when it comes to measuring the national debt in the country. The deficit is a shocking 12.7 percent of the countries entire economic output. This is a huge number and is making buyers of debt very hesitant to provide the assistance that Greece needs. This is multiplying the problem and forcing an already stressed Eurozone to step up and promise assistance. The promise, however, is a very interesting one. Why? It is coming with a brutally blunt set of demands. Greece must slash government spending and raise taxes before the countries of the EU will kick in to help it.

Why not let Greek default on its debt? The answer is found in Asia in the late 1990s. Thailand had built up a huge real estate bubble [sound familiar?]. It eventually went bust and nobody stepped up to help. The general view was Thailand was a small player in the economic world and it wouldn’t have a big impact. Wrong. The economies of Asia were tied together in obvious and less obvious ways and the countries of Southeast Asia were all severely impacted. Currencies lost much of their value, which is why vacationing there is so utterly cheap. Given all this, the EU is not about to watch Greece go down the tubes.

The situation with Greece bears watching because it is not the only country in the world that is suffocating under massive debt. The real question is how long countries will continue to bail each other out as we move forward and the bill for all this government spending comes due. It is not going to be pretty.

Advertisement. Scroll to continue reading.

Retrieved from “

(ArticlesBase SC #2728638)

Liked this article? Click here to publish it on your website or blog, it’s free and easy!

Oli Osorhan
About the Author:

Oli works full time as a Market Analyst.He graduated in Management.He can help you to grow your computer consulting. For more on teaching and education, be sure to check out the website. Involved in FREE advertisement for all kind of online businesses. Everyone needs business exposure. There’s FREE advertising gift for your business.


Questions and Answers

Ask our experts your Economics related questions here…200 Characters left

What should be done about the national debt ?
I am having a brake and rotor problem with my 09′ dodge journey, my husband has changed the brakes twice and rotors once and again we are facing the same problem (27,000 miles) please help!!!
What are the economic problems in greece ?

Rate this Article


0 vote(s)



Article Tags:

2 3 4 5

Click to comment

You must be logged in to post a comment Login

Leave a Reply

You May Also Like