{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Economist says debt crisis points to more pain for investers' data-url='/boclips/videos/5c54c1f0d8eafeecae155f03' data-video-url='/boclips/videos/5c54c1f0d8eafeecae155f03' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nEconomist says debt crisis points to more pain for investers\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Medium of stock market ticker2. Close-up of ticker3. Wide of graphs showing stock market movements since opening of day''''s trading4. Wide of ticker5. Wide exterior of stock exchange building6. Mid interior of economist Vangelis...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Medium of stock market ticker\u003cbr/\u003e2. Close-up of ticker\u003cbr/\u003e3. Wide of graphs showing stock market movements since opening of day''''s trading\u003cbr/\u003e4. Wide of ticker\u003cbr/\u003e5. Wide exterior of stock exchange building\u003cbr/\u003e6. Mid interior of economist Vangelis Agapitos at his desk\u003cbr/\u003e7. Close of computer monitor\u003cbr/\u003e8. SOUNDBITE (English) Vangelis Agapitos, Economist:\u003cbr/\u003e\"The Greek market on the other hand is dropping, still reflecting uncertainty as to whether a haircut of 50 percent, what affect this will have onto the Greek bank capitalisations and whether they will need to be nationalised, which is, you know, something the market is very much afraid of.\"\u003cbr/\u003e9. Wide of newspapers hanging at kiosk\u003cbr/\u003e10. Close-up of newspaper front page showing Papandreou with Merkel and Venizelos with Lagarde \u003cbr/\u003e11. Medium of newspapers with headline at left reading (Greek) \"Haircuts of up to 50 percent for bonds and people\" and at right (Greek) \"Horse trading and tightrope walking before the haircut\"\u003cbr/\u003e12. Close-up of headline reading (Greek) \"Immoral trick over layoffs\"\u003cbr/\u003e13. SOUNDBITE (English) Vangelis Agapitos, Economist:\u003cbr/\u003e\"The meetings over the weekend, no question were very difficult. What the finance minister has said, of course, is that everything is under control and we will receive the sixth instalment and the programme needs to be implemented as agreed with the troika. However he is under considerable pressure to deliver, to walk his talk and to make sure that the Greek budget is controlled both for 2011 and for 2012.\"    \u003cbr/\u003e14. Wide of finance ministry building\u003cbr/\u003e15. Close-up of finance ministry window\u003cbr/\u003e16. SOUNDBITE (English) Vangelis Agapitos, Economist:\u003cbr/\u003e\"I think our European partners and Germany in particular, want additional assurances that Greece will deliver on its promises as agreed on the 21st of July of this year, while at the same time Greece needs to have the comfort that Europe will be on time to provide any further instalments.\"\u003cbr/\u003e17. Wide of Parliament\u003cbr/\u003e18. Close-up of Greek flag\u003cbr/\u003eWhile European stocks traded up amidst hopes that European leaders will consider new ways to fight the debt crisis, Greece''''s stock market dropped on Monday with uncertainty surrounding talk of a greater ''''haircut'''' on Greek bonds.\u003cbr/\u003e\"A ''''haircut'''' of 50 percent, what affect this will have onto the Greek bank capitalisations and whether they will need to be nationalised,\" economist Vangelis Agapitos said is something the market fears.  \u003cbr/\u003eGreek Finance Minister Evangelos Venizelos who met with counterparts and other officials in the United States over the weekend also ruled out a debt default, saying that his country was working hard on implementing decisions made in July. \u003cbr/\u003eGreek Prime Minister George Papandreou heads to Berlin on Tuesday, where he will meet with German Chancellor Angela Merkel ahead of a parliamentary vote there on approving plans to beef up the eurozone rescue fund.\u003cbr/\u003eAgapitos said that european partners, especially Germany, want additional assurances that Greece will deliver on its commitments.\u003cbr/\u003eGerman officials have downplayed prospects of any quick and dramatic change of course in the eurozone debt crisis, such as further increasing the size of 440 (b) billion euro (595 (b) billion US dollar) rescue fund, called the European Financial Stability Facility.\u003cbr/\u003eFaced with mounting anger from the country''''s international creditors, the Greek government recently announced a raft of new austerity measures to secure the\u003cbr/\u003enext 8 (b) billion euro (10.7 (b) billion US dollar) instalment of bailout loans from the 110 (b) billion euro rescue package it has been dependent on since last year. \u003cbr/\u003eWithout the funds, Greece only has enough funds to see it through mid-October, when it faces the prospect of a messy default.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv 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