How the euro caused the Greek crisis

Greece is in a state of economic and financial crisis that's dominated global headlines this week. Vox's Matt Yglesias explains the real roots of the crisis. For our more on the Greek crisis: http://www.vox.com/cards/eurozone-crisis Subscribe to our channel! http://goo.gl/0bsAjO Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. Check out our full video catalog: http://goo.gl/IZONyE Follow Vox on Twitter: http://goo.gl/XFrZ5H Or on Facebook: http://goo.gl/U2g06o

Comments

1. Wow.. An American makes a video about Europe (specifically the Eurozone, I admit) and.... "Look at all these amazing welfare systems we have in America!!!" Buddy, there are more poor people in the US than there are in the whole of Europe. Your welfare system is rubbish and FUNNY THAT YOU MENTION GERMANY ( 2:36 ) - "Germans are willing to support poor German people, but they don't want to support Greek people." -WITHOUT GERMANY (and all the money it gives out/lends) THE EU WOULD BE NOTHING. Germany is crucial to the Eu in every single way. Funny that your president refuses entry to e.g. Syrians who actually LIVE in the US and pay taxes in the US (even though he doesn't himself lol), but Germany accepted the entry of hundreds of thousands of refugees in the refugee crisis in 2014/15. So please check your own rubbish system before spewing the "'Murica is amazing!!!!!" everywhere. Thank you. Tired of seeing "America is the best!!!!!!" everywhere when the policies of the US really need to be revised!
2. 2017 and the unemployment rate is 55%
3. Ridiculous to conclude that the Euro project is flawed on the back of one country. Even if we had been forced to kick out all of Southern Europe, I think the Central Europeans would still beg to differ on the Euro being introduced for purely political reasons.
4. 0:33 that's currency manipulation
5. Your "correction" is off. Not only is Sweden and Norway not part of the Eurozone, neither is Denmark.
6. U can not have an economic union without a political union and that will never happen , get rid of EU
7. I see a lot of American nationalism here
8. Its like the only vegetarian at a barbque .. hahahah xD
9. Yeah, it was the Euro fault... how about no? Remember: Greece cheated to be accepted in the EU (with help of Goldman Sachs) and they have a huge bureaucratic and corrupt state and institutions so, it was a shared mistake to introduce them in the EU, they are not victims, they are part of the problem (and not a very cooperative one)
10. Reducing the Euro to merely a symbol of continental unity is a terrible characterization. It was an effort for the relatively small economies of Europe to band together in order to compete on a global level. Also the comparison to a dinner party was terrible, every country deals in fiat currency. Saying the Euro was the wrong type of currency leads me to ask, what should they have traded with instead? Chickens? Goats?
11. Just fiction, it's all about the bait click
12. The problem with vids like these is that it hurts your cred. so much that its hard to trust others. As a German (like many Europeans here) I feel like you didnt do any proper research. All you looked at is money flow, which is one tiny tiny part of the entire economic system we're living in.
13. estonia is doing pretty with their low debt
14. this is bulshit Ireland fixed our economy and we didn't have to print more money, Greece had a really bad taxation system and they lied to the European union about the strength of their economy so they could get in
15. economy killed on purpose by EU burocrats , importing low quality food from abroad and destroying agriculture ... i do not buy this story , even because many countries are getting stronger like Poland under Germany contractors , this is a tricky big game and out the Eu is the solution , as today Germany is the truly winner , before was much better
16. Man's voice is not good at all. Try another one sound better please
17. It didn't fail because it wasn't thought through, failure was the whole point. Greek collapse was supposed to be met by European countries bounding together, increasing integration and circulating money more like a single country.
    
    Instead when the time came the rich nations of Europe wagged their fingers and tutted at Greece's failure. They've offered loans instead of handouts and imposed austerity instead of allowing self-rule. In short, they are having their cake and eating it: Benefiting from the Euro and helping Greece in only the most minor way without having to commit, while also getting to control Greece's government spending.
18. No it isn't the reason...
    I don't like video!
19. but they don't want to support greek people with theur tax DOLLARS........ Please vox xD
20. Why is Luxembourg not included among the eurozone countries on the map at 0:22?