The Greek Crisis and the Future of Europe

Welcome to Bible in the News, this is David Billington with you. Greece is again descending into chaos; having a weak tottering government, the street of Athens erupting into violence with protestors revolting over the austerity measures and the banking system on the verge of collapse. Other European banks have a large exposure to Greek debt and there is again a dangerous risk of contagion. If Greece defaults on it loans, the effects could cause catastrophe for other weak Eurozone economies. These events would spread ripples throughout the financial system worldwide.