Wester Civilations Essay

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Jeff Western Civilizations Professor Fatemi Article on Greece June 13, 2011 The article I chose on Greece is named “In Greece, Some See a New Lehman” the article is about the failing economy in Greece. Many have said that as bad the economy is in the US, Greece is far worst off then the US. I found this to be very interesting for many reasons. For starters how can anywhere be worse economically then the US? For the past three years it has been pandemonium for the US economy, everyone is asking when will it bounce bank and if it will bounce back. If the lives of the average American has changed in our economic crisis how are the lives of those living in Greece being that much more affected? The problem in Greece is their debt has grown to over $473 billion and the country being so small the burden of having a debt so large maybe too much. It is hard to tell if the Greek economy will ever bounce back from this economic crisis. Bailouts have been created to help overcome this great debt, but many annalists don’t know if it will be enough. You almost have to feel bad for Greece being such a small country with such a large amount of debt, where do they look to for help? What sets the American and Greece economic problems apart is America is a large enough economy to be able to take a hit such as the one it has in the past 3 years where Greece is too small to help itself.

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