The Greek Tragedy That Changed Europe

Currently, interests rate continue to fall leading into further deficits and a very dangerous buildup of government debt. The country is working towards recovery, but this large amount of government debt could collapse its recent recovery. The Europeans have taken on the challenge to manage their economy, but are not being careful in doing so. The European Central Bank has responded by buy government bonds, but are moving towards cutting Greece off. Greece will not be the only country to experience this cut in aid from The European Central Bank. Since these struggling countries all share the euro, their currencies cannot fall and each country will have make adjustments by lowering wages and reducing the public workforce. The last time this was seen was in the Great Depression.