It started v the Statue of Liberty country 2yrs ago but their economy growth slowly recover because they control the world economy.
Then, when it comes to Europe country, USA ally, it's quite impossible for the countries to recover.. few Europe countries are facing bankruptcy especially Greece, one of the most beautiful country in Europe! The reason is why? Only one word can explain all of the 'whys' that is Yes, most of European countries are facing a severe indebtedness. After a few months of selling a few of their well-known islands and property, the government of Greece gave up and they've agreed to rebuild the country by a mix government! At least they tried.. One kind neighbor, the Germany, invites skilled workers from Greece to work in Germany to reduce the number of unemployment in Greece.
The second rising government debt country was Ireland. It is just like a pandemic disease. It transmitted from one country to another country in Europe.. But Ireland is showing a good recovery in their 2nd quarter of economy growth after months of struggling.
After Greece & Ireland, the 3rd country that faced quite the similar problem was Portugal! How did the Portuguese overcome this problem? Thanks to the EU. PM José Sócrates and his government resigned.
And the latest world headlines of the economy crisis is Italy. And finally, after 17 yrs of ruling the country, the AC Milan owner also the PM, Silvio Berlusconi resigned when he realized he could not do anything to help the economy even though he did succeed in his sex scandals and corruption charge.
Italy is famous of its incredible automotive creations such as Ferrari, Lamborghini, Ducati Piaggio etc etc but the economy crisis showed no mercy! What will happen to Italy? We just wait and see..
In October 2011, eurozone leaders meeting in Brussels agreed on a package of measures designed to prevent the collapse of member economies due to their spiralling debt. This included a proposal to write off 50% of Greek debt owed to private creditors, increasing the EFSF to about €1 trillion and requiring European banks to achieve 9% capitalisation. As of November 2011, the same eurozone leaders that extended the package to save the eurozone have extended an ultimatum toward Greece. Both President Nicolas Sarkozy of France and Prime Minister Angela Merkel of Germany have made it public that both of their governments have reached the end of their patience with the beleaguered Greek economy. (wikipedia)
Luckily, those countries didn't affect Malaysia because we are not bound in terms of trade. But what will happen when countries like Germany and Britain face the same crisis? Of course we will be affected.
For me when we talk about debts, one of the biggest debts contributor is the So guys, beware of the CC uses, use it only when you really really need it not because you want to use it.
Then, when it comes to Europe country, USA ally, it's quite impossible for the countries to recover.. few Europe countries are facing bankruptcy especially Greece, one of the most beautiful country in Europe! The reason is why? Only one word can explain all of the 'whys' that is Yes, most of European countries are facing a severe indebtedness. After a few months of selling a few of their well-known islands and property, the government of Greece gave up and they've agreed to rebuild the country by a mix government! At least they tried.. One kind neighbor, the Germany, invites skilled workers from Greece to work in Germany to reduce the number of unemployment in Greece.
The second rising government debt country was Ireland. It is just like a pandemic disease. It transmitted from one country to another country in Europe.. But Ireland is showing a good recovery in their 2nd quarter of economy growth after months of struggling. 
After Greece & Ireland, the 3rd country that faced quite the similar problem was Portugal! How did the Portuguese overcome this problem? Thanks to the EU. PM José Sócrates and his government resigned.
And the latest world headlines of the economy crisis is Italy. And finally, after 17 yrs of ruling the country, the AC Milan owner also the PM, Silvio Berlusconi resigned when he realized he could not do anything to help the economy even though he did succeed in his sex scandals and corruption charge. 
Italy is famous of its incredible automotive creations such as Ferrari, Lamborghini, Ducati Piaggio etc etc but the economy crisis showed no mercy! What will happen to Italy? We just wait and see.. 
In October 2011, eurozone leaders meeting in Brussels agreed on a package of measures designed to prevent the collapse of member economies due to their spiralling debt. This included a proposal to write off 50% of Greek debt owed to private creditors, increasing the EFSF to about €1 trillion and requiring European banks to achieve 9% capitalisation. As of November 2011, the same eurozone leaders that extended the package to save the eurozone have extended an ultimatum toward Greece. Both President Nicolas Sarkozy of France and Prime Minister Angela Merkel of Germany have made it public that both of their governments have reached the end of their patience with the beleaguered Greek economy. (wikipedia)Luckily, those countries didn't affect Malaysia because we are not bound in terms of trade. But what will happen when countries like Germany and Britain face the same crisis? Of course we will be affected.
For me when we talk about debts, one of the biggest debts contributor is the So guys, beware of the CC uses, use it only when you really really need it not because you want to use it.
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