The crisis in Greece is a bigger deal than one would expect because outside bets from financial institutions are hedged on the notion that Greece can service its debts. Yet that belief is being thrown on its head because of the massive amount of debt in Greece compared to their GDP. As things stand today [...]
European Union has countries in depression – European nations of Spain, Portugal, Ireland, Greece, and Italy have severe challenges ahead with growing GDP.
The European Union is facing its toughest battle since the inception of the EU currency. Many of the nations in the EU are incredibly in debt and are pitting differing ideologies and economies against one another. Many countries like Spain, Greece, and Ireland are deep into depressions and GDP is actually shrinking in these nations. [...]
Italy facing contagion from Greece. The European debt crisis spreads. Spain up to 21.5 percent unemployment rate.
Italy is now facing the spillover effects from the European debt crisis brought on by Greece. Greece was merely a tiny domino in the bigger scheme of things and Italy is now being put into the spotlight. Tragically the hope was being misplace in the idea that somehow Greece would be solved and no further [...]