BBC reporter Mark Lowen came to Greece and went to a Greek barbershop in Athens where he produced a video explaining in “layman’s terms,” what the new Greek coalition government essentially means by a “debt haircut.”
The result was a funny and informative videoclip that explains in detail the meaning of the Greek debt haircut and its implications for the euro zone and the rest of the European countries.
Lowen went to a Greek barber, the Los Barberos barbershop on Acharnon street to explain what exactly a Greek haircut is, how much the debt of Greece is, who reacted more to a possibility of an actual debt haircut and what is going to happen.
As Greece is going to renegotiate the bailout program, the new government will ask for a stop to austerity and push for half of Greek debt to be written off, bringing it down to a more sustainable level, a so-called “haircut.”
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