Greece Financial Crisis
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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.
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Greece Financial Crisis
- 1. Greece Financial Crisis Causes and the World Response.
- 2. Presented By: Muhammad Ali Muhammad Usman Muhammad Numan Ali Hassan
- 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)
- 7. CAUSES GDP growth Government deficit Government debt Budget compliance Data credibility Government Spending
- 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
- 10. DATA CREDIBILITY AND GOVERNMENT SPENDING Flawed Data Non Productive Spending
- 11. WORLD RESPONSE OVER CRISIS IMF and EU Stepped in
- 12. IMF AND EUROZONE Loan Provided 2010-11 110 Billion Euro Fiscal Consolidation and Economic Reforms in Greece Austerity Measures Capital Control
- 13. TIMELINE
- 14. IMPORTANT QUESTIONS. Why Did the Rescue Fail? What if Greece left the Eurozone?