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Press Review: Overview of Greece

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Press Review: Overview of Greece

  1. 1.  Over the last decade, Greece went on a dept. Leading to economic crisis that threatend both European’s recovery and the future of the Euro. European leaders obtain an agreement from banks to take 50% cost on the face value of greek’s debt. IMF and ECB would not decrease a 50% on the face value as it was planed.
  2. 2.  Because of this greek’s dept would only decrease to 120% by the year 2020. Four days after the release oof the plan, greek’s prime minister (Papandreou)announced a referendum. Greece Elected a new Prime minister by the name of Papademos along with his cabinet members moving towards the development of greece’s economy.

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