November 09, 2011

Italy and Their Debt

This article that I found describes the debt and crisis in Italy. They are currently six times more in debt then Greece, with a 1.9 trillion debt. Italy's Prime Minister Silvio Berlusconi will be stepping down in the very near future. Did you know that Italy is the euros third largest economy? One of the main reasons Italy has found itself in such a huge problem is because with out a new government plan or recovery plan, Italy is having troubles borrowing money to help finance their debt. Italy is really not too sure of where to go from here. Silvio Berlusconi is pushing elections because he is certain his party can win but others are in favor of letting an interim goverment step in and take care of the necessary things that are at risk right now. My huge question is how does one country acquire a 1.9 trillion euro debt? And how in the world does a country recover from that?

The link with a video can be found here.

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