Saturday, 27 August 2011

Who is Affected by the Greek Debt Crisis?

The Greek debt crisis has affected more nations than Greece. How Eurozone leaders continue to deal with the crisis has far-raching implications not only for Greece, but for many other countries in the Eurozone.

Several banks in the zone have been severely affected by the developments. Commerzbank, based in Germany, has had to write down its Greek debt, which amounted to 760-m euro. This all but eliminated any profits the bank made for the second quarter.

There seem to be only a few options for dealing effectively with the Greek debt crisis. There was Eurozone leaders meeting recently to discuss these options.

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