Recently, the world economy is downgrading. Greek economy is one of the fastest growing in the world between 2000 and 2007. The Greek government takes advantage of this and run large structural deficit. However, by last year, the Greek deficit has already been raised to 13.6%, a scary number. Greece originally aims for a better economy; however, the high interest causes Greece not have enough money to pay for the investors. Therefore, it starts borrowing money from other countries and not being able to pay back. 
It’s a domino effect. When Greek economy goes downhill, other European countries, the US and Asia will be affected because they invest a lot on it. Greece should not be greedy trying to improve its economy by raising the deficit. Its economy growth was fast, but it could have looked for other safer roots to achieve the economic goal.
An interesting view of Greek economy is that by the time Greece has enough money to pay back, it’s actually benefited because of depreciation. Greece will owe the same amount of money in the future except the value of the money will shrink.
Greek debt crisis explanation
Hey Ethan, totally agree with your article. We have noticed that as the US economy went down-hill, the whole world fell with them! Even though Greeks economy would not affect the world as much as it would if the US fell, it would still have an affect on the world. Especially in Europe.
lol “come on” Greeks! Get the economy up
Yeah they really need to “Come on!” or I am not sure if they are going to make it out of this death spiral!