History 1807 Lecture 2: Lecture 2
6 Nov 2015
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Document Summary
Intro to financial crisis and overview of the current greek situation. Since 2008, people tend to live their lives on a set narrative. Currently and in the past, it was thought that government control was bad, and. Curr5ently, donald trump as an international figure, is breaking away from this that the private sector was good conventional wisdom. There are conditions being set in place from the countries lending money to. Greece in order to pay back their debts. When greece kept borrowing money in 2008, they got into the bond market. Greece issued the bonds, and people from other countries were buying them. The money being lent to greece currently is being used to pay back the bond. The bondholders were from other rich countries such as germany, and from wall. Therefore, germany and the other wealthy counties are placing these conditions to bail themselves out, and don t really care about greece.
