Saturday, February 6, 2010

Is Debt Trashing the Euro

The article discusses how debt occurring especially in Greece could be bringing down the price of the Euro in all countries. This was brought on in Greece due to the fact that Greece was riding the strength of the Euro as well as lending money at extremely low rates causing huge debt. Now the problem facing the EU is whether or not they will have the ability to say no to Greece which will allow them to declare bankruptcy.
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2 comments:

  1. Brian TrubowitzFebruary 7, 2010 at 4:26 PM

    Honestly, if the Euro goes down it will just help the U.S. dollar.

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  2. Kexuan GuoFebruary 8, 2010 at 12:08 AM

    As mentioned in this article, the crisis of Greece has already spread to the whole Europe, demonstrating how powerful interests rates could be. Rather than discussing how Greece would face this changing problem, this article focuses on how Europe would cope with this trouble induced by Greece debt. So far, Europe has not had a final decision. And the biggest issue is whether other European countries should keep supporting Greece or stop lending money to it. To be candid, I do not know whether the other European countries should keep supporting Greece; however, I think when considering this issue, other European countries should think of more about the whole situation and then make the optimal solution.

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