The truth of why Europe wants Greece to suffer

Another reason why Belize should be paying attention to what is going on in Greece and start to make changes before we get to the same place. The truth about the never-ending financial crisis & the cult of extreme austerity Greece’s financial nightmare has lasted five years now. There’s no sign of real relief—for a very specific reason   For someone who writes about economics, the situation in Greece offers two enticing elements: the ability to spin out moments of high drama, and the probability it will endlessly repeat forever. We’ve experienced five years (really, here’s one of my first […]

What happens when a country Defaults on their Foreign Debt or gets a Bailout to avoid Foreclosure? 4

Lets look that the Bailout deal struck today to attempt to save Greece from Financial disaster. EU – European Union ECB – European Central Bank IMF – International Monetary Fund The second bailout for Greece will avert imminent bankruptcy and Greece will stay in the Eurozone. The deal comes in two parts: Investors take a huge loss of $142 Billion Dollars (A loss of nearly 55%) Greece will receive 130 Billion Euros in new loans. But before that can happen they have to implement 3 Billion Euros in spending cuts. To add, they will get an interest rate reduction to […]