Category Archives: Eurozone

Greece’s Newest Bailout

Over the past week, Greece has once again met another deadline to pay back their massive amounts of debt. In addition, they have yet again failed to do so. Simply without having enough money to give to their creditors, Greece has been put on the fence. The Greek Prime Minister has made it clear that his overall goal is to protect the Greek citizens. This is why he is taking a vote on Sunday on whether or not to adhere to the creditors rules which clearly don’t have the best interest of the Greek people in mind. The creditors have given Greece an ultimatum; Keith Mann says they must increase taxes and cut pensions or Greece may just have to say goodbye to the Eurozone. As of now, Greece has already shut down the stock market and limited the amount of money citizens can withdraw at a time from an ATM. The bailouts have not stopped coming, however. Thom Feeney, a native of London, set up a fundraising campaign via the Indiegogo crowdfunding platform. Already, Feeney has raised over $630,000. Although this number is significantly shy of the overall goal, it is still nice to see Greece still has supporters around the world. Perhaps the most interesting thing to realize is the a majority of the donations have come from German citizens. This is the last thing to be expected as Greece owes Germany from several past bailouts.