debt problem

The “Greek Debt Crisis” explained

Financial markets worldwide are still on a decline and are being dragged supposedly because of the Eurozone debt crisis. Foremost among these problems is Greece — a country of 11.3 million people with external debt reaching more than $500 billion — currently at the brink of debt default.

What exactly happened? What led Greece to reach this unenviable position? Why are Greek people protesting?

Here’s a simple explanation of the Greek debt crisis.

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