Greece exit -A boon or a bane?
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Greece joined the Eurozone as its 12th member in 2001 but was the first to be bailed out in 2010 ever since the Eurozone crisis in 2009. After government borrowing rates soared, Greece secured another bailout in 2010 of $142 billion following a second package earlier in 2012. Both were in return for promises of tough austerity cuts. By the end of 2014, Greece owed “troika”(European Central Bank, the International Monetary Fund and the European Commission) €253.3bn. In 2014, many talks were doing the rounds of a possible exit of Greece from the Eurozone.
