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Posted by on Feb 10, 2010 in Europe, TG Roundup, Worldwide

BBC Report: ABCs of Greece Economic Problems

As I have alerted earlier on this blog that the epicenter of a new financial storm is currently centered in PIIGS countries – specifically, Greece. The problem is simple – Greece borrowed heavily for Olympics related spending and other growth. About 30 Bil Euros of that debt is due or needs to be rolled over in Feb, and more in coming months. It is like digging new holes to cover old holes.

If you want to know what is happening in the world which could eventually affect you, watch this ‘must watch’ short BBC video which puts Greece problems in perspective. The narrative is clear and concise in explaining how problems in Greece are threatening the very viability of Euro as a currency.