Monday, July 11, 2011

What's going on with Greece debt..in plain English?

To make the long story short, Greek Government spent money recklessly, then borrowed money to close the gap but couldn't handle the situation. Plus most of the Greek people don't pay taxes as they're supposed to pay. Now they need money and some kind of reforms that would keep the country running...But the EU is not wishful to lend them more money because the EU is afraid of not getting the money back.

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