Bailout On Way!

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Greece has been in financial trouble for what seems like ages now, so will they solve their problems? The Euro Zone gave Greece a timeline that ended this past Sunday for their debt deal. Greece has tried to submit a new loan request, but the size of the loan has not been made public yet (the estimated amount is around $55 billion). Many experts think that this deal is critical to the well being of the Greek Economy, because otherwise they will face a bankrupt future with no help. Thankfully for Greece late into Sunday night a bailout deal was agreed upon, marking the third bailout in five years for the country. The hole that Greece has created with their financial problems just keeps seeming to get deeper and deeper. Here is a quick video recapping what happened prior to this bailout when Greeks voted on the EU bailout.

So what will come of Greece? Does their further downfall have major effects on other economies? Has the government lost the trust of it’s people by going against what they wanted? What is the solution to these problems?

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