Greece is in deep financial trouble at the moment, with mounting debts and no way of paying them back. They owe serious institutions too, like the International Monetary Fund, which doesn’t take kindly to debtors refusing repayments.
The question is, how did Europe get into this mess in the first place? Bloomberg has the answer, or at least its own biased version of the answer.
This is broadly accurate, if not a little too political for my liking. It also ignores the effect the rest of the world had on things, including the United States.
Still, whoever is to blame, Greece is is serious trouble as a result. And things are probably going to get a lot worse before they get better.
