Posted by: abbyanavilok | November 8, 2011

Greece and the Global Economy

You hear alot about the global economic crisis and Greece these days in international news. What is going on?

The mother of all financial crises

Greek crisis could have indirect impact on Canada

Here there are two links to whats going on with Greece and its economic crisis. I’m not really a fan at reading about politics and the world, after reading it over and over heres what i think of these articles.

It seems that Greece has fallen into a major debt that can’t be solved. They have been in debt since 2007 from the article i read “The mother of all financial crisis”  They are soon to be faded off and if this happens, the nations that stand behind it or follow it can also fade off from one nation to another. This is a huge and serious situation. Countries can go into the same crisis and to think of the future, i mean hey i’m thinking of myself and my kids future, never know that Canada can also follow this ‘crisis’ We might if happens, go back into the past from the 1930’s and that was ‘The Great Depression’ To think of Canada going through it again is scary. We only got back on our feet from World War 2. If this crisis happens to Greece, I’m sure other countries will follow including Canada. And what might we plan to do if this crisis happens to us? I’ll leave that question to our government because i’m not a professional at knowing what ‘politics’ is. I think Canada should have a back-up plan in case this crisis comes our way. Thats what Greece should have done, to have a back-up plan or to always have a back-up plan if any case like this happens.

When it comes to Canada its a big thing to worry about. Canada is the home of multi-cultural citizens, and i’m sure Canada has ties to Greece. If Greece comes to a fall with their crisis, i’m sure it’ll have affects on our country. Jobs can be lost, many families can lose their homes and everything they have worked for just from this ‘crisis’ To think of all the lives people worked so hard for can come to an end from this economic crisis. I mean from the article “Greek crisis could have indirect impact on Canada”, as many as 400,000 jobs can be lost in total and thats a big number, a very big number! Many families could lose everything, even myself for that matter. This really is a big deal to be dealt with for the whole world even. I hope Greece can find a way to get themselves out of their major debt, and i’m sure they are getting help.

 

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