LouisCribben
Registered User
- Messages
- 337
Could someone explain (for dummies) what the Greek Bailout means.
OK, the Greeks have a massive deficit, are spending more that they are taking in from taxation, and can't service their loans
Does a bailout mean that someone is going to pay their debts for them ?
Are they getting a freebie - is someone going to wipe out their loans for them ?
Who bears the cost of the bailout ?
OK, the Greeks have a massive deficit, are spending more that they are taking in from taxation, and can't service their loans
Does a bailout mean that someone is going to pay their debts for them ?
Are they getting a freebie - is someone going to wipe out their loans for them ?
Who bears the cost of the bailout ?