Eurozone Crises & Greek

SICK MAN OF EUROPE Being one of the seventeen countries in the EU that uses Euro, Greece had been enjoying a high assumeard of living for many a(prenominal) years which mainly was caused by their government spending. With the financial crisis in 2008, Greece was also hit and it ended up with recession in 2009. Even before the crises started, Greece had excessive borrowing and spending, but their income was non as strong as their expenditures. In 2010, Greece started to seek for a bailout software product which was going to be funded by the EU atom countries. Out of all members, those who had strong economy with stability did not like this idea as the Greek Government had a bad track record from the past. On the opposite post not providing help to Greece meant weakness in Euro. Many European Banks were holders of Greek Debt. So, member countries approved the bailout package, but came up with reliable conditions which were basically enquire Greece to cut their spending. (In 2012 there was another bailout package as the first did not really help) The polls at once show that the majority in Greece does not want to cash in ones chips up on Euro. With the recent elections, New country company won the election which was a relief for two the politicians and economists.

If Syriza companionship had won, there was no chance standing for Greece but expiration the Euro! Very soon EU members pass on start asking New Democracy Party for their reform plans and budget cuts. In my opinion there is not a clear resolution if Greece should stay with Euro and still be a member for EU. That will all depends on Greeces political strategies and policies from here on. I dont believe that even with New Democracy Party being in power, Greece has any chance to stand on their feet! Their debt and income level are too far outside from each other. They have to pay back a hazard of debt. I believe that if Greece leaves Euro, it would be much better for both Greece itself, and for the EU member countries. Greeces... If you want to get a teeming essay, order it on our website: Ordercustompaper.com

Ordercustompaper.com is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!