After what has been going on in Greece this week we will be talking about the Euro debt crisis.
We’re not all economists – talking about Greek debt is difficult in French let alone English! To get us up to steam and ready to talk about Greek debt, here’s a quick lesson (think Euro Debt for Dummies ;). This clear and simple video by Jonathan Jarvis explains the Euro crisis with pictures.
As you watch the video try to anwer the questions:
- Why are these dates important for the Eurozone economy – 1945, 1990, 1999, 2008?
- What is the difference between fiscal and monetary policy?
- What is the consequence of a common monetary policy for small countries?
- What are some differences between Germany’s and Greece’s fiscal policies?
- What are the consequences of austerity?
- What does Jarvis think the solution is?