Video: how to prepare for the greek debt crisis

Greece has been living beyond its means in recent years, and its rising level of debt has placed a huge strain on the country's economy.

The Greek government borrowed heavily and went on something of a spending spree after it adopted the euro. Public spending soared and public sector wages practically doubled in the past decade.

However, as the money flowed out of the government's coffers, tax income was hit because of widespread tax evasion. When the global financial downturn hit, Greece was ill-prepared to cope.

It was given 110bn euros of bailout loans to help it get through the crisis - and has now been earmarked to recieve another 109bn euros. But many fear that will not be enough.

You can watch a video on how to prepare for Greek debt crisis on TheMoveChannel.tv:
http://www.themovechannel.tv/2011/10/how-to-be-prepared-for-the-greek-debt-crisis/