Despite already receiving financial aid from the international community, there is the danger that they might be denied any further bailout from the European Union (EU) and International Monetary Fund (IMF) should the austerity bill fail to pass.

Fisher Capital Management Warning News: Greece Crisis Sends Global Warning Is Greece really the first car in the impending train wreck? Fisher Capital Management reports on world headlines and insights on the Europe s debt crisis story. As of December... More

Fisher Capital Management Warning News: Greece Crisis Sends Global Warning Is Greece really the first car in the impending train wreck? Fisher Capital Management reports on world headlines and insights on the Europe s debt crisis story. As of December 2010, Greece has foreign debts amounting to $587 billion - $280 billion from foreign governments and $290 billion from foreign banks. The country s problem appears to come from the insolvency of the government and the domestic banks. Despite already receiving financial aid from the international community, there is the danger that they might be denied any further bailout from the European Union (EU) and International Monetary Fund (IMF) should the austerity bill fail to pass. Why are they scrambling to bail out the floundering economy of Greece? This coming July, Greece is in the verge of defaulting, that is, they won t be able to make the scheduled loan payment. If that happens, a new worldwide financial crisis will be seen in the h Less