Because The Greek society as a whole spent for seceral decades more than their economy created value.
That means the amount of money you need to pay to get bailed out.
The government of Greece agreed to a bailout plan that required it to nearly double the tax rate for most citizens.
There is no such crisis as the financial bailout package crisis. the bailout was created to overcome the financial crisis.
The nation that helped most to bail out Greece during its financial crisis was Germany. As the largest economy in the Eurozone, Germany played a crucial role in providing financial support and negotiating bailout packages through the European Union and the International Monetary Fund. Additionally, Germany's insistence on implementing strict austerity measures was a significant aspect of the bailout agreements.
205 for it and 228 against it.
The Financial Bailout and the Big 3 bailout
The latest "bailout" is the automotive bailout of the Big Three automakers, Ford, GM, and Chrysler. Legislation was introduced on Dec. 8th.
1. Bailout is a mechanism to strengthen banks' balance sheet so that their credit rating will not deteriorate thus not requiring to pledge additional asset to creditors. 2. It is also a mechanism to safeguard banks from panic withdrawal from depositors. Bailout comes at a cost (a very huge cost), in dollar term, it was estimated that the whole bailout plan will cost every man, woman and children in the US $2,300. For more information, visit: http://leonardatavism.blogspot.com/2008/09/some-thoughts-for-us-bailout-plan.html for
Ford did not receive any bailout money.
Specifically speaking, nobody asked for a bailout. Out of the options that were considered to revive the economy this bailout was considered the most effective way and hence it came into existence.
See: http://en.wikipedia.org/wiki/Bailout Bailout refers to the action of helping out somebody in trouble. You can compare the bailout in financial terms to the bail or parol we get for someone in jail. In bailout, a company with strong financial status offers to help a company that is in dire financial needs. Such a scenario is where the stronger company bails out the weaker one.
No, Capital One Bank did not receive a bailout during the financial crisis of 2008. Unlike many other financial institutions, Capital One was able to maintain its stability and did not require government assistance. The bank's focus on credit cards and consumer banking helped it navigate the crisis without the need for a bailout.