Tag Archive: economics

Current Events: Week 6

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?