Greece and the Global Economy

Hello I am scared for Greece Economy and its effects on the world. Its very scary for me to think about it. It really effects the world even if the country Greece is way on the other side of the ocean very far from where we live it can still effect us. Over 40.000 people can lose thier jobs and that in Cananda only! All the stock markets can go down in Canada and the USA and most people makes investments to have a everyday normal life they depend on their investments to keep their families fed and clothed. The articles I read were ostly about Greece and its neighbouring countries like Ireland, Italy, and Germany! Those countries are probably the most in risk because they are soo close to Greece! The article on The mother of all financial crisis is a very good resource if you want to know more. All I know is that the crisis can effect the whole world and the major stocks markets! The political parties may also have a big impact on this euro crisis because they would need to elct a new leader for Greece and that is probably a very hard decision. It was very irresponsible for Greece to borrow all this money and not have the money to pay it back! As for garuntees of provincial bebts, most leaders beleive that the federal government and the bank of Canada stand behind them but nothing in the law says that! All federations have to decide what the federal government does when lower-level governments get into debpt trouble. They should have thought about that before they borrowed from other countries and the countries that lent the money to Greece thay should have lookad at their Financial background! There are 10.7 million living in the small country Greece  and they are a 3rd lower than Usa and Canada. Although Greece make some money as fast as they are losing it. IF-Greece defaulted a condition that really shouldnt be put in the conditional anymore, because no one will lend them anymore money! Neighbouring countries can go downhill with Greece if they dont keep their financial states stronger than it already is! This is all I have to say on Greece and its economical crisis!


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