Tuesday, June 28, 2011

The Greek crisis unravelled and its impact on gold

Author: David Levenstein

A look at some of the facts about the current debt crisis in Greece, the reasons behind some of the political reactions and, how Greek people are buying gold

After 15 consecutive years of economic growth, Greece entered a recession in 2009. Greece's GDP growth has also, as an average, since the early 1990s been higher than the EU average. However, the Greek economy faces significant problems, including rising unemployment levels, an inefficient government, tax evasion and political corruption. Unemployment skyrocketed, from 10.3% in 2009 to 16.2% on March 2011, an increase of 57.28% leaving more than 800,000 unemployed. In the last quarter of 2010, unemployment in the youth reached

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