Greece Debt Crisis

Do Now: Write a paragraph describing how you would solve

Greece debt crisis

Feb. 12, 2013AIM: Develop a solution to the Greek debt crisis.

Austerity • Pension cuts• Budget cuts• Cuts to social programs (education and

healthcare) • Cuts to the public sector

• Why did the government make these cuts?• The European Union told the Greek

government to cut public workers salaries and public programs

1. Who does Greece owe? Great Britain, France, Italy, Portugal, the U.S.

2. What was the money used for? To Save their banks, education (schools), transportation (railroads), 2004 Olympic Games

3. How much money does Greece owe? 0.4 trillion euros4. How can the Greece’s debt effect other countries? Other

nations use the euro, nations that loaned to Greece won’t be paid back and will be forced to cut their own social spending (pensions, education, transportation, etc).

5. What could the European Union do to help Greece? Told Greece to make austerity cuts (to cut social spending – to education, pensions, transportation, etc.)

Create a Plan

Your plan should include the following information:

• What type of industry you are focusing on?• How will this plan help the Greek economy?• A detailed description of how the plan will be

implemented, who will be effected and who will it hurt and where will you get the money from?