When private lenders learned the size of Greece's budget deficits and debt in 2009, they:
A)promptly made loans to the Greek government to prevent a financial crisis.
B)refused to make further loans to Greece.
C)seized assets that belonged to the Greek government.
D)nationalized banks and the manufacturing industry in Greece.

Question

Quizplus · Accepted Answer

When private lenders learned about Greece's budget deficits and debt in 2009, they lost confidence in the country's ability to repay its debts, and as a result, refused to make further loans to Greece. This led to a financial crisis in Greece, which ultimately required a bailout from the European Union and the International Monetary Fund.

When Private Lenders Learned the Size of Greece's Budget Deficits