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greece has been downgraded from undeveloped country
uh... that's the status it has according to the and i_c_i_ which is the
investment index provider
uh... so they've been downgraded from a developed country
too
uh... in emerging market
nama come back to that in a second
but up i can tell you how amused i admit that
you'd just downgraded greece it was considered a developed country
but out of you know this the unemployment rate in greece has been
like twenty six percent for the past three years
on a daily basis there's rise in the street is a great vice documentary about
this
there's father golden dawn party which is the ultra-right party that has like
nazi sympathies ultra nationalist
they've risen up at work that is
a rebuttal to that there's people who are
for left is considered anarchists that point and daily on in the streets
it is non-stop political turmoil and there's like no jobs done employment
rate is higher than what the great depression was in the united states at
its absolute peak
i mean there are a lot of trouble nevermind that
incredible an incredible amount of austerity
they've cut uh... spending to the ball in the race access
not the best thing to do if you have believe those silly of people whole
economists
so uh...
endlessly amused by the fact that they just got downgraded from a developed
country
but look at the name then
the nate now they're an emerging leader in emerging market
for merging is the right word for various dude you can say that they're
not new
anywhere near a merging their dean barging
forward i just made up
uh... apparently it's four so
the only time ever since we started ranking in nineteen eighty seven that a
country has been downgraded you don't they take away from mrs
overall
you gotta understand
the rating agencies or ***
now i had no i didn't hear about m n_c_i_ until today
uh... my guess is they're exactly like you know moodys and the rest of them
where
they were raiding the toxic assets leading up to two thousand a financial
crisis as triple-a rated
okay they're not sure where there is simply not really dot triple-a they're
not good
they were crap so why did they write then the wrong thing because they were
paying by the company's that had
the toxic assets so of course they're gonna
help them out because babe and uh...