STARTER

When you’re older, you’ll be allowed to borrow money to buy things like a car or a house. This is called a loan. Loans aren’t free! You have to pay interest on the money that you borrow.

Calculate the following interest payments:

A loan of £10,000 at 12% interest = £1,200 a year in interest = £100 a month.

A loan of £10,000 at 10% interest = £ = £

A loan of £10,000 at 6% interest = £ = £

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

STARTER

When you’re older, you’ll be allowed to borrow money to buy things like a car or a house. This is called a loan. Loans aren’t free! You have to pay interest on the money that you borrow.

Calculate the following interest payments:

A loan of £10,000 at 12% interest = £1,200 a year in interest = £100 a month.

A loan of £10,000 at 10% interest = £1,000 a year in interest = £83 a month.

A loan of £10,000 at 6% interest = £600 a year in interest = £50 a month.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

The story…

The next 5 slides will tell Greece’s story. You must fill out your sheet with some details. Don’t copy the writing out – write summaries instead.

TG: CD and DE must use the green writing.

TG: BC must also look at the blue writing.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

2004

Greece has borrowed lots of money over the last 15 years - from EU banks and from other countries' governments. It used the money to run the country, pay for the 2004 Olympics and things like big pay rises for government workers.

We’ve seen that when you borrow money, you have to pay it back, with 'interest' -you pay back more money than you borrowed!

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

Progress Check:

Your tables should look something like this so far:

TG: CD and DE must use the green writing.

TG: BC must also look at the blue writing.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

2008

In 2008, the whole world was hit by a banking crisis where all the world's banks were worried they wouldn't get their money back. Greece had borrowed and spent so much that it couldn't afford to repay its debts.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

2011

Countries in Europe worked together to try to help Greece. They lent it hundreds of billions more of Euros. Things are so bad that even that amount wasn't enough!

Europe's leaders decided that the banks that had lent money to Greece should cut the amount the country owed them by half - and that European governments would give Greece even more money.

This help came with strict rules - Greece must stop spending so much money. Many people in Greece weren't happy with this and there were lots of protests on the streets against the plans to raise taxes and cut spending.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

2015

In January, Greece elected a new government to try and sort things out. The new government say they've had enough of the whole country feeling poor. Many people there have lost their jobs, their homes and some can't afford to feed their families.

The new Greek Prime Minister, Alexis Tsipras, wants to do a deal with the leaders of Europe, to stop the very strict money rules the country has had to follow for the past few years. They say those rules haven't helped Greece and the country's still in big trouble with money.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

The Future?

If Greece were to completely run out of money, it would cause huge problems for all the countries and banks in Europe, because they would lose all the money they lent to Greece. Britain's affected too, even though it doesn't use the euro. Because European countries buy so much of our stuff, what happens to those countries would affect Britain too.

Option 1: Greece’s debts are cancelled.Option 2: Greece can’t pay its debts and has to leave the Euro.Option 3: Greece pays its debts, but has no money left.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

Progress Check:

Your tables should look something like this:

TG: CD and DE must use the green writing.

TG: BC must also look at the blue writing.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

Literacy Focus

Now you are going to use your table to write the story of Greece.

You must write in paragraphs and have very good spelling, punctuation and grammar.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

Literacy Focus

Now you are going to use your table to write the story of Greece.

You must write in paragraphs and have very good spelling, punctuation and grammar.

SELF ASSESSMENT TIME1. Read your work.2. Check that you’re using the paragraph structures on the left.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

PEER ASSESSMENT TIME1. Re-read your partner’s work (work in pairs)

2. Check that they’ve used paragraphs.

3. Mark and spellings and give two stars and a wish.

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

MUST – describe why Greece is having money problems.SHOULD – explain what the options are for Greece’s future.COULD – evaluate Greece’s future options.

What’s happening in Greece?

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.

What’s happening in Greece?

Watch this short clip for a final summary:

MUST – describe why Greece is having money problems.SHOULD – explain how these problems have come about.COULD – evaluate Greece’s future options.