Lesson 33. Sustainable Banking

Lesson 33. Task 8. Watch the video on the American Debt Crisis with Michael Tanner, a senior fellow at the Cato Institute who proposes a solution

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Put down the key points:

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America’s Debt Crisis

 

1. How do countries get into debt?

2. How deep is the debt abyss the US has found itself in?

3. What do the investors who money to the US hope for?

4. Which experience best shows what will happen to the US is it fails to pay back?

5. Which European countries have passed through the debt crisis?

6. What is the current debt interest rate in the US?

7. What are the ways of dealing with the debt in case the interest rate rose to 5%?

8. Who is the biggest investor loaning the US money?

9. What is the vicious side of being indebted to it?

10. What are the reasonable ways of regaining control over finances?

11. Under which circumstances does a national debt become a real problem for a country?

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