Europe will help Greece - level 3

Europe will help Greece - level 3

27-10-2011 16:00

The situation in Greece is still serious. There are no easy solutions to the financial crisis. Greece is so much in debt that some people believe that it will go bankrupt sooner or later.

However, the leaders of Europe don’t want to give up and they are trying to help Greece. There was a deal agreed today at 4 o’clock in the morning in Brussels. Angela Merkel and Nicolas Sarkozy came up with a solution. European banks will have to write off 50 percent of Greece’s debt.

It is a huge amount of money. European countries have already sent a lot of money to Greece, Germany being the biggest contributor.

There are also other countries with similar problems like in Greece, such as Spain or Portugal. Will Europe handle this financial crisis?

Written by Danny

Interesting words: go bankrupt, deal, write off, contributor.

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