For students that have been struggling and trying to understand how the European Debt Crisis came about, watch this simple video for a clear illustration on what it is about, and what have caused it to happen!
Now that you’ve gained a better understanding of how the European Debt Crisis came about, take the challenge one step further by asking yourself, “How would this debt crisis affect other countries in the world, like the United States, Russia and Singapore?”, “How would this affect the Standards of Living of their trading partners?”
Hint: It can be understood using knowledge from the “Balance of Payment” topic. Drop a Whatsapp / SMS to 9732 9931 for a deeper discussion on the above! We are more than happy to answer your questions!