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Because their economies have become weak, borrowing additional money to keep their governments going has become more costly, which has made their economies even weaker.
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Fundamentally they have, for over 10 years, been spending (government spending) more on public services than they have been raising in tax revenues.
They have fueled their society on borrowed money and now the Greeks they say they will not pay what they owe back.
The other countries in Europe and the IMF have said they will help Greece but only if they change this fundamental tax imbalance first (by cutting the amount they spend and increasing taxes). The current Greek government is refusing to do this, so nobody is currently prepared to lend them any more money.
What else can I help you with?
Which European countries have debt problems?
Greece Portugal Malta Spain
What caused debt problems in such countries as Spain Italy and Greece?
Because their economies have become weak, borrowing additional money to keep their governemtns going has become more costly, which has made their economies even weaker
Does Greece have any debt?
All countries have some sort of debt.
Why do you country such as Greece and Italy have debt problems?
I'm sure there are many reasons and opinions for this sad performance. In my opinion this was caused by both of those volatile countries never having stable,long term governments since WW2.
How did the Roosevelt corollary impact the US?
took action when Latin America had debt problems
What are the current economic problems that Greece is dealing with?
Greece is currently facing economic debt crisis balance of payment deficit unemployment high inflation
What did the unite states do as a result of the Roosevelt corollary?
It became more involved in debt problems in Latin America
What is the LDC debt crisis?
LDC debt crisis is where countries can't meet their global financial obligations thus the country is bankrupt. Greece is now in its 5th year
What did the us do as a result of the corollary?
It often sent troops to nations in Latin America.-It often became involved in debt problems in Latin America
what did the united states do as a result of the roosevelt corollary?
It became more involved in the debt of Latin American.Took action when Latin American countries had debt problems
Which countries are worse off since adopting the euro?
Countries like Greece, Portugal, and Italy have faced significant economic challenges since adopting the euro. Greece, in particular, experienced a severe debt crisis, leading to austerity measures that exacerbated social and economic issues. Portugal and Italy have also struggled with stagnant growth and high unemployment rates, making it difficult for these nations to recover fully. The inability to control their monetary policy has limited their options for addressing these economic hardships.
What is Euro zone crisis?
Some countries in the EU (Greece, Spain, Italy, Portual and Ireland) have a national debt so high, that no one is willing to lend them money anynmore, or only at huge amounts of interest. Because these countries spend more than they earn, they need the money to keep the country from going bankrupt.
