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 are the potential consequences of austerity policies on citizens?

What challenges do countries face when trying to balance their budgets?