Under this article the author will discuss briefly about the Greek Depression and focus on the causes and the journey that how does it came out of this very chaotic situation. What were the decisions which leads to financial destruction eventually effecting neighbor states. Then the author tries to elaborate the steps the Greek and neighbor states took to stabilize Greek economy for saving themselves from this anticipated economic depression.
3. Contents
– Introduction to Greece
– How Did it all Happen ?
– Causes
– World Response over crisis
– Why Did the Rescue Fail?
– What if Greece left the Eurozone?
– Conclusion
4. Introduction to Greece
– Official name - Hellenic Republic
– Capital- Athens
– Rich History (Famous Philosophers)
– Gain Independence in 1832 (From Ottoman Empire)
5. How Did it all Happen ?
– Flawed financial report by forerunner governments
– Entry into the Eurozone
– Interest Rate falls
– IMF and Eurozone imposed the fiscal policy
– Reckless Borrowings
– Excessive expenditure on non revenue generating
programs.
– Capital control (Bank holiday)
6. How Did it all Happen ?
– Flawed financial report by forerunner governments
– Entry into the Eurozone
– Interest Rate falls
– IMF and Eurozone imposed the fiscal policy
– Reckless Borrowings
– Excessive expenditure on non revenue generating
programs.
– Capital control (Bank holiday)
8. GDP Growth and Govt.
Deficit Account
– Global Financial Crisis
– Cut Government
Expenditure
– Shipping Business
– Tourism
– Unemployment
– Deficiency from last many
years
– No New Income Source
– More Expenses and Less
Income
9. Government Debt and
Budget Compliance
– Reckless Debt
– Didn’t Predict the Crisis
– Lack of Professional
Expertise