Greece Explained

With Many THANKS to the VlogBrothers and YouTube. The Greek debt crisis explained in four simple minutes in this video. The continuing debt crisis in Greece is getting so bad that even now there is rioting and a fire was set at one of the banks, killing three people. Could what is happening right now in the nation that had given to the world both democracy and the Olympics be a WARNING, a carnary in the coal mine shaft for the USA? Watch The Video:





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 http://www.youtube.com/xperpetualmotion for the illustration.

Debt Chart: http://en.wikipedia.org/wiki/File:US_...