30 June 2011

The Euro Crisis: Who is Rescuing Whom? And Why?

Are you confused by the recent financial and economic events in Greece? Do you wonder what exactly happened to cause the financial crisis when the Euro had seemed so strong for so long? And how come it affects countries like Greece and Ireland but not Germany or France?

This animated short film by Bertelsmann Stiftung will explain everything simply and concisely for you. It goes back a few years to show what precipitated the current crisis and why opting out of the Euro is probably not a good idea for those countries that are suffering at the moment. Seems a little dry? I thought so too but the animation here is crisp and clear and I really feel like I understand the situation a little better now! OK, I am still never going to be an economist but then again – neither are the people running the show, so it seems!