Insight (1995)

Greek Ruins (2011x32)

: 08, 2011

Greece is in trouble. After living beyond its means for years, Greece has got to the point where its sovereign debt is equal to 166 per cent of its annual output. On top of that is a lurching political situation, talk of leaving the eurozone, a youth jobless rate of more than 40 per cent, and a slashing of wages, pensions and hospital budgets. Little wonder the rest of the world is nervous. We look at what’s unfolding in Greece – from the broad economic picture to the experience of those on the ground – and whether Australia will be affected.