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How does Athen Greece's financal status affect everyone around the world??

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Michigan-Mom74

Asked by Michigan-Mom74 at 6:41 PM on Jun. 29, 2011 in Politics & Current Events

Level 34 (66,351 Credits)
Answers (5)
  • We are all somewhat interconnected, finacially, through commerce, loans and debts. Also, through investment market. If Greece crashes, investors will lose confidence, pull out, and the whole world will have less circulation. It will effect it's neighbors, of course, the EU, because of currency issues and debts, import/exports . . . .
    ImaginationMama

    Answer by ImaginationMama at 6:45 PM on Jun. 29, 2011

  • how bad will it be if the country ends up having to file bankruptcy?? How would it affect the US?
    Michigan-Mom74

    Comment by Michigan-Mom74 (original poster) at 6:55 PM on Jun. 29, 2011

  • We will probably see a fall in the market, which is detrimental to us in so many ways, as alot of our business relies on that money to survive. I don't know about direct loan info between US and Greece, as we probably owe some of the same countries, but if they default, then it takes away from the pool of money that we also borrow from to bail us out.
    Imagine when a bank has a lot of defaults . . then they start to add fees and tighten belts to make up the cash flow difference.
    ImaginationMama

    Answer by ImaginationMama at 7:01 PM on Jun. 29, 2011

  • They settled on something this afternoon:


    http://www.nytimes.com/2011/06/30/world/europe/30greece.html


     


    Athens is the capital of Greece.....

    minnesotanice

    Answer by minnesotanice at 9:40 PM on Jun. 29, 2011

  • The sensible course will be for Greece to default on its debts . It will have no effect on the rest of the world and after an initial impact on financial markets , they will recover, life will go on as before and the problem of pressure on the eurozone will be resolved . It is nonsense to think that bondholders have to be protected at the expense of everyone else . Any investment carries risk and if they can't bear the heat they should not be in the casino and not be expected to be bailed out by governments ..
    janet116

    Answer by janet116 at 1:09 AM on Jun. 30, 2011

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