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Understanding the Financial Crisis in Greece financial crisis

In which John Green discusses the history of Greece’s deficit and debt problems, the challenges of adopting the Euro and living with the Eurozone’s monetary …

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Understanding the Financial Crisis in Greece

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Understanding the Financial Crisis in Greece
financial crisis
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39 thoughts on “Understanding the Financial Crisis in Greece financial crisis”

  1. i wish you or hank would make a video about these unelected entities such as the E.U/UN/IMF/WHO and even things like Interpol. How did we end up with these world government entities??

  2. Democracy at Stake? Organizational and Cognitional Challenges from the European Fiscal Crisis

    Greece as a Case Study. Presentation-Conference: 1st Annual International Conference on European Studies and European Governance, 9-10/5/2014.

    Organized by the Department of International and European Studies, UoM, Gr and Jean Monnet Chair

  3. Greece was and pretty much always be, a failed State, this is why you or any analyst on this planet will always fail to understand the Greek financial problem. Analysts need numbers, and when the Greek Government announces numbers, all Greeks are laughing , because we all know that the Greek Government, or ANY GREEK GOVERNMENT will never be in position to measure the Greek economy. Unfortunately all money spend by EU and IMF has been used in order to save and not to eliminate corruption and since all planet funds corruption in Greece, the Greek nation has no chance to get rid of it. Greece could be a very stable and rich European Country but unfortunately wants to be a Crony middle eastern failed State.

  4. Watching through all your videos in a row from 2007 to now, it's given me a much more in-depth appreciation for those 12 years of history now in 2020. (and there's still 500+ videos to go, side note watching them all with an extension that restores annotation greatly increases the value)

    The number one saying you reminded me of with this video is history repeats itself. A little while from now there will be Brexit, a British Exit from the EU. I thought that word seemed novel but with the benefit of hindsight from this wow they just take the first 2 letters of a place and slap exit after them.

  5. Crisis in Greece is the result of fighting for independence from the Ottoman Turks. Greeks have shown they have failed to manage their country independently. If Greece was still under the Ottoman rule, they would have never experienced financial crisis.

  6. outstanding. — speaking as an armchair economist who likes to talk about these things with my friends, and especially a big fan of varoufakis. anyway seems like a tremendous amount of information, and a very good introduction for someone who is interested. (and correct me if I am wrong, but the next chapter in the story, the "democracy" of Greece was not allowed to interfere with the "economics" of Europe and the leftist government was removed somehow?)

  7. The EU is a part filled beaurocratic dream. Self perpetual, but an administration game, which makes wrong assumptions. 1. Money can be printed. 2. 27 countries will dance together. 3. Talking substitutes intelligence, and divergent needs. 4. Talking substitutes sound economy. 5. Talking is a great way to make people believe in the EU dream, when they can't pay the electric bills etc.

  8. You nailed it. Just one point to add. Greece actually has again run out of options. As has Italy. And soon France. Printing money to loan, to create debt, to then print money to pay debt, is a fools PARADISE

  9. The EU is a false economic structure. Its a political structure. It is a socialist dream, based on dreams of "we are all friends and buddies" but in reality it has been overwhelmed by its own dream. there are too many contradictions. So after Covid, either the EU infringes the Natioanl rights, and creates a single state, or it implodes. The UK has set the Italians off towards an ITALEXIT , which will actually finally destroy Italy, as it wont be able to pay the deficit with a new Lira. and then we are going to see a massive implosion.

  10. Greece is almost a central state. Once it decided to not reform its institutions in the 1990s onwards, the EU handouts started a contorted system, more money, no way to pay back, no sustainable economy, lazy nation, no national business plan, more EU money, more "waste" (im being diplomatic" more loans, no industry or competitive services other than tourism to the sun….(the sun is free…) bloated and medieval public sector with crazy ideas, and more "waste" (the less i do the more the jobs i increase for my friends….) Go to work at 10.30 in the morning, sometimes…if you want….you cant be fired anyway. Greece is victim of a disease. Increase taxes to compensate tax avoidance. Thus killing the small industrial base. Its called many things but above all its called "socialism and lazyiness". After many years in Greece, you might….might do an hours work a day….on a good day. So who is the victim? all those who believed, and all those who didnt do anything about it. So the EU allowed it. Germany will now pay.

  11. The problem in Greece is socialism. 75% income tax, 24% sales tax, 8 dollars for a gallon of gas. Visited there last year. Lots of poverty there. The most popular sport there is tax evasion.

  12. 2020 and the crisis continue , more brutal than before .. Noone pays the price of the made up crisis and the people get poorer and poorer day by day.. Greetings from Greece!

  13. I agree with all you had to say except your comment about the USA. Debt has to be paid off and if you are not getting more money than what you are spending to pay off your debt there will be crisis eventually.

  14. The things are very simple. In greece we dont have democracy. Every goverment that we had since 1974(except a few situations) was taking actions against the people

  15. The most important factor was hardly mentioned. Corruption. Corrupt politicians took huge loans from Germany in order to pay corrupt businessmen for infrastucture projects where lots of money dissapeared. Then the politicians and businessmen invested their stolen money in Germany and bought Mercedeses. Then this money went to very rich Germans. Then poor Greek people don’t want, or can’t, pay taxes to repay the loans that they got very little from. Then the German politicians tell poor Germans that the money was stolen by lazy Greeks and that they must do with less wages. Then the Germans are angry at the «lazy and crooked» Greeks and the Greeks are angry at the greedy Germans. And rich corrupt people in both countries are very happy.

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