VOICED: Europe debt crisis deepens after Spain downgrade

The video discusses the economic challenges faced by eurozone countries, focusing on credit rating cuts, high deficits, and unemployment. It highlights the impact of the economic crisis on Spain, Portugal, and Greece, with Greece being downgraded to junk status. The video warns about the potential negative effects of austerity measures, such as reduced purchasing power and increased unemployment. It also covers the proposed bailout for Greece, which comes with demands for public wage and pension cuts, leading to union resistance.

What is one of the main economic challenges faced by Spain as mentioned in the video?

• Low inflation

• A strong currency

• A surplus in the budget

• A high unemployment rate

Which country was the first in the eurozone to be downgraded to junk status?

• Italy

• Spain

• Portugal

• Greece

What is a potential risk of implementing austerity measures too quickly?

• Lower interest rates

• Higher unemployment

• Increased inflation

• Stronger currency

What action did German Chancellor Angela Merkel consider in response to Greece's economic situation?

• Increasing public wages

• Strengthening the euro

• Providing a bailout

• Reducing taxes

What was the reaction of Greek unions to the proposed austerity measures?

• Supportive

• Indifferent

• Encouraging

• Resistant