Greece Debt Crisis Do Now: Write a paragraph describing how you would solve Greece debt crisis Feb. 12, 2013 AIM: Develop a solution to the Greek debt.

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Greece Debt Crisis Do Now: Write a paragraph describing how you would solve Greece debt crisis Feb. 12, 2013 AIM: 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 euros 4. 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?