Infographic: Lessons from the Greek Economic Crisis
The scale of the crisis that has ruined the Greek economy is unprecedented. The Greek government owes a whopping €240 billion in loans from the IMF and other Eurozone countries, with a debt to GDP ratio of 1.75:1. Greece is considered on a par with poverty-stricken nations in sub-Saharan Africa on the Heritage Foundation’s index of economic freedom and has an unemployment rate of 25%.
How did an entire nation’s economy sink to such a nadir? More importantly, what lessons can other governments learn from the failures of the Greek authorities in recent years? This infographic from Eazy Cash (http://eazycash.ca/) pinpoints where it all went wrong for Greece and what can be learned from the economic crisis that has affected the country at every level.