https://padlet.com/rafi_lewis/qv7q5h64rma0 Made with an aura of mystery en-us 2018-05-02 16:36:39 UTC 2023-06-22 10:14:46 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Condos.png rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257343673 This is a euro which is the currency used in the Eurozone. Greece started to use the euro on January 1, 2002, and this was a factor in the debt crisis. Greece caused the value of the euro to drop because of its financial struggles.]]> 2018-05-02 16:40:47 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257343673 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257346073 These are the countries in the Eurozone, and Greece joined in 2001. The Eurozone was a project to unite the countries of Europe through a single international currency. The original reason for uniting these countries came after WWII, and was to make peace in order to avoid another world war.]]> 2018-05-02 16:46:13 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257346073 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257348218 During the debt crisis Greek banks were forced to close down. In June of 2015 the banks just simply did not have enough money, and Greek citizens were limited to withdraw just 60 euros per day at this time.]]> 2018-05-02 16:50:59 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257348218 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257350892 Greece was in debt even before the official debt crisis started. They hid this debt, and eventually it got so bad that they could not hide it anymore. They began to receive bailout loans from the Troika, but this only made the debt worse and Greece had no way of paying it back.]]> 2018-05-02 16:56:20 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257350892 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257353767 This video explains the mistakes that Greece made, and how those mistakes led to immense debt. The video also says who Greece owes its money to and how much money they owe. It also explains why Greece could not get out of their debt]]> 2018-05-02 17:02:34 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257353767 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257389558 Rich countries are almost guaranteed to pay back their loans, and that allows them receive loans with low interest rates. Greece was in a situation where they could not pay back their debt, and that led to Greece getting new loans; However, these new loans did not have low interest rates because Greece was no longer trusted to pay off its debt. That meant that Greece lost their advantage of being a rich country that could borrow money cheaply]]> 2018-05-02 18:13:14 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257389558 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257791387 Greece mostly owed money to Italy, France, and Germany. They also owed money to the IMF and to other Eurozone countries.]]> 2018-05-03 18:12:25 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257791387 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257794218 When Greece was struggling with their debt the Troika decided to give them bailout loans. Many people believe that the true purpose of these loans was to allow the other Eurozone countries separate themselves from the Greek debt.]]> 2018-05-03 18:18:20 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257794218 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257797588 The bailout loans given to Greece by the Troika came with austerity measures. The austerity measures limited Greek spending among other things. The people of Greece despised the austerity measures, and the austerity measures actually caused the Greek economy to shrink.]]> 2018-05-03 18:26:07 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/257797588 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258008325 The 2004 Olympics were held in Athens. In 2004 Greek debt was piling up, and there was a new prime minister. The new prime minister saw the debt that Greece was hiding, and he decided not to inform the public of it because he did not want to disappoint anyone right before the Olympics. Covering up the debt contributed to the debt building up in the early twenty first century.]]> 2018-05-04 12:56:18 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258008325 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258088630 2018-05-04 16:21:23 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258088630 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258089214 2018-05-04 16:23:34 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258089214 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258089416 2018-05-04 16:24:18 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258089416 rafi_lewis https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258747658 2018-05-08 00:41:28 UTC https://padlet.com/rafi_lewis/qv7q5h64rma0/wish/258747658