The document discusses the Greek debt crisis that originated in 2007-2008 when it was revealed that Greece could not repay its external creditors. Greece had a budget deficit equivalent to 13.6% of its GDP and debt levels of 115% of GDP. The crisis worsened in 2010 when Greece received bailout packages from the EU and IMF totaling €115 billion to avoid defaulting on its loans. The crisis raised questions about the long-term viability of the shared Euro currency and exposed flaws in how some Eurozone nations managed their finances.
The Greek government crisis (also known as the Greek depression) started in late 2009. It was the first sovereign debt crisis in the Eurozone later referred to collectively as the European debt crisis.
In 2012, Greece's government had the largest sovereign debt default in history.
On June 30, 2015, Greece became the first developed country to fail to make an IMF loan repayment. At that time, Greece's government had debts of €323bn.
Project on Greece Crisis and Impact for Economic Environment of Business Renzil D'cruz
: Project on Greece Crisis and Impact for Economic Environment of Business
• financial crisis of 2007–2008
• Greek government-debt crisis
• Causes for deteriorated economic
• Tax evasion and corruption
• Unsustainable and accelerating debt-to-GDP ratios
• Impact of the Greece Economic Crisis on India
India’s Crisis Responses and Challenges
We all know Greece is in deep trouble after defaulting on its debt to the International Monetary Fund. Many Greeks blame the austerity measures for much of the country’s continuing problems. The leftist Syriza party rode to power this year promising to renegotiate the bailout.
The Greek economy is shrinking. At such times one of the tools available with government is to tinker with the currency. Unfortunately the Greeks cannot do so because they share their currency with other nations of the EURO region.
Today’s lesson by Prof. Simply Simple attempts to explain you the story of ‘Greece Crisis’ using an interesting analogy.
The Greek government crisis (also known as the Greek depression) started in late 2009. It was the first sovereign debt crisis in the Eurozone later referred to collectively as the European debt crisis.
In 2012, Greece's government had the largest sovereign debt default in history.
On June 30, 2015, Greece became the first developed country to fail to make an IMF loan repayment. At that time, Greece's government had debts of €323bn.
Project on Greece Crisis and Impact for Economic Environment of Business Renzil D'cruz
: Project on Greece Crisis and Impact for Economic Environment of Business
• financial crisis of 2007–2008
• Greek government-debt crisis
• Causes for deteriorated economic
• Tax evasion and corruption
• Unsustainable and accelerating debt-to-GDP ratios
• Impact of the Greece Economic Crisis on India
India’s Crisis Responses and Challenges
We all know Greece is in deep trouble after defaulting on its debt to the International Monetary Fund. Many Greeks blame the austerity measures for much of the country’s continuing problems. The leftist Syriza party rode to power this year promising to renegotiate the bailout.
The Greek economy is shrinking. At such times one of the tools available with government is to tinker with the currency. Unfortunately the Greeks cannot do so because they share their currency with other nations of the EURO region.
Today’s lesson by Prof. Simply Simple attempts to explain you the story of ‘Greece Crisis’ using an interesting analogy.
Eurozone Crisis : A case study on GreeceAniket Pant
Our group was required to do a presentation for Financial Management on the Euro Zone Crisis. We took the example of Greece and did the study. Here are our slides.
For anyone who does not want to be reduced to a Greece- like situation, these are learning times. Be disciplined in money matters,
tighten your belts
Greece and its European creditors announced an agreement in Brussels on Monday that aims to resolve the country’s debt crisis and keep it in the eurozone, but that will require further budgetary belt-tightening that Prime Minister Alexis Tsipras could have trouble selling back in Athens.
The International Monetary Fund threatened to withdraw support for Greece’s bailout on Tuesday unless European leaders agree to substantial debt relief.
The Greek Parliament has scheduled a vote for Wednesday night on whether to approve central elements of the deal.
Greece government debt crisis -cause, result and effect kasaken
I made this when I was in Canada as study abroad. I took business management course in KGIBC for 6 module. I learned business manner, economics, accounting, etc. Every modules had presentation, quiz and test. This is the one of presentation I had. thanks,
Project on Greece Crisis and Impact for Economic Environment of Business Renzil D'cruz
: Project on Greece Crisis and Impact for Economic Environment of Business
• financial crisis of 2007–2008
• Greek government-debt crisis
• Causes for deteriorated economic
• Tax evasion and corruption
• Unsustainable and accelerating debt-to-GDP ratios
• Impact of the Greece Economic Crisis on India
India’s Crisis Responses and Challenges
A small presentation on Greece crisis. Some information about Greece crisis. You can understand the reasons behind the crisis and can understand the reasons to resolve it.
The Greek government-debt crisis (also known as the Greek depression) started in late 2009. It was the first of five sovereign debt crises in the euro-zone – later referred to collectively as the European debt crisis.
The 1999 introduction of the euro as a common currency reduced trade costs among the Eurozone countries, increasing overall trade volume. However, labor costs increased more in peripheral countries such as Germany, making Greek exports less competitive. As a result, Greece saw its current account (trade) deficit rise significantly.
Causes:
Government spending
Current account balance
Tax evasion
Misreported debt statistics
SOLUTIONS IMPLEMENTED:
First Economic Adjustment Programme for Greece (May 2010 – June 2011)
Second Economic Adjustment Programme for Greece (July 2011 – present)
RECOMMENDATION TO THE CRISIS:
Exit the Eurozone or "Grexit"
Digital currency cards
Negotiate another bailout
European debt conference
A brief understanding of the series of events that led to the downfall of Greece. From a self sufficient nation Greece is now 323 billion pounds in debt.
Eurozone Crisis : A case study on GreeceAniket Pant
Our group was required to do a presentation for Financial Management on the Euro Zone Crisis. We took the example of Greece and did the study. Here are our slides.
For anyone who does not want to be reduced to a Greece- like situation, these are learning times. Be disciplined in money matters,
tighten your belts
Greece and its European creditors announced an agreement in Brussels on Monday that aims to resolve the country’s debt crisis and keep it in the eurozone, but that will require further budgetary belt-tightening that Prime Minister Alexis Tsipras could have trouble selling back in Athens.
The International Monetary Fund threatened to withdraw support for Greece’s bailout on Tuesday unless European leaders agree to substantial debt relief.
The Greek Parliament has scheduled a vote for Wednesday night on whether to approve central elements of the deal.
Greece government debt crisis -cause, result and effect kasaken
I made this when I was in Canada as study abroad. I took business management course in KGIBC for 6 module. I learned business manner, economics, accounting, etc. Every modules had presentation, quiz and test. This is the one of presentation I had. thanks,
Project on Greece Crisis and Impact for Economic Environment of Business Renzil D'cruz
: Project on Greece Crisis and Impact for Economic Environment of Business
• financial crisis of 2007–2008
• Greek government-debt crisis
• Causes for deteriorated economic
• Tax evasion and corruption
• Unsustainable and accelerating debt-to-GDP ratios
• Impact of the Greece Economic Crisis on India
India’s Crisis Responses and Challenges
A small presentation on Greece crisis. Some information about Greece crisis. You can understand the reasons behind the crisis and can understand the reasons to resolve it.
The Greek government-debt crisis (also known as the Greek depression) started in late 2009. It was the first of five sovereign debt crises in the euro-zone – later referred to collectively as the European debt crisis.
The 1999 introduction of the euro as a common currency reduced trade costs among the Eurozone countries, increasing overall trade volume. However, labor costs increased more in peripheral countries such as Germany, making Greek exports less competitive. As a result, Greece saw its current account (trade) deficit rise significantly.
Causes:
Government spending
Current account balance
Tax evasion
Misreported debt statistics
SOLUTIONS IMPLEMENTED:
First Economic Adjustment Programme for Greece (May 2010 – June 2011)
Second Economic Adjustment Programme for Greece (July 2011 – present)
RECOMMENDATION TO THE CRISIS:
Exit the Eurozone or "Grexit"
Digital currency cards
Negotiate another bailout
European debt conference
A brief understanding of the series of events that led to the downfall of Greece. From a self sufficient nation Greece is now 323 billion pounds in debt.
The Future of Computer Trading in Financial Markets Exec Summarybis_foresight
Advances in technology continue to transform how our financial markets operate. The volume of financial products traded through computer automated trading taking place at high speed and with little human involvement has increased dramatically in the past few years.
For example, today, over one third of United Kingdom equity trading volume is generated through high frequency automated computer trading while in the US this figure is closer to three-quarters.
A new two-year Foresight study The Future of Computer Trading in Financial Markets - An International Perspective, sheds new light on technological advances which have transformed market structures in recent years.
http://www.tradingfives.com/blog/elliott-wave/complimentary-report-explosive-new-analysis-about-euro-and-european-debt/ A perspective on the Greece debt crisis that suggests it may be the harbinger of the collapse of the euro and European political unity, such as it is.
Financial Data Mining and Algo Trading presented at the SAS Data Mining Confe...Robert Golan
Algorithmic Trading has changed the world the way the Traders trade and Trade Support supports. There is a Brave New World happening with the "hands on" Trading evolving into "hands off" Algo Trading. Not all trades need to be made in ultra low latency timing. Future trading will rely on a broader set of data which will be mined for relevance. For example, an important series of XBRL Financial Reporting events are happening throughout the world and especially in the USA. A critical mass of financial data will be ready for mining which will be a boon for transparent "low touch" fundamental style algorithmic trading.
How will we power the UK in the future? bis_foresight
Sir Mark Walport gave a series of public talks on energy at Science and Discovery Centres across the UK between September 2015 and April 2016. In these talks he explored how we could power the UK in the future.
These slides come from the last talk given in Birmingham, but differ only slightly from the slides used in earlier talks.
See the accompanying animations at:
https://www.youtube.com/playlist?list=PLb-lLN3v5qAxFKlzS-eaaGJUEhVbyES2f
Learn about the different types of algorithmic trading and how it actually works. Algorithmic trading is a growing trend. I Know First has an advanced self-learning algorithm that has helped many investors achieve magnificent returns. I Know First's live portfolio returned 60.66% in 2013, beating the S&P 500 by over 30%!
Presentation by Leszek Balcerowicz, Warsaw School of Economics at the Conference "Have We Learnt Anything from the Crisis?" in Riga, Latvia. 17.10.2014
Impact of Greek Financial Crisis on the Value of Euro with the Other Major Wo...Dr. Amarjeet Singh
During the Greek Financial Crisis period (December 2009), Greece, one of the members of the EUROZONE, faced an unprecedented financial crisis which triggered gradual erosion in the value of EURO with respect to major world currencies during this period. During May 2010, the European Union agreed for a bailout package for Greece which was intended to prevent a further decline in the value of Euro.
This study mainly focuses on the trend in the Exchange rate of Euro against the world’s major currencies during the period of Greek financial crisis and the predictability of Future spot exchange rates using the currency Futures rates. It has been noted that on an average the variation between Future spot rate and Currency futures rates has been highest in respect of INR/EURO and the lowest in respect of GBP/EURO. This indicates that the predictability of GBP/EURO futures rate as an indicator of future spot price has been the highest.
Further, it has been found that the depreciation in the EURO exchange rate during the Greek financial crisis has been the highest against INR and lowest against GBP. This has been further confirmed by the fact that the Regression Coefficient of GBP/EURO has been the lowest while that of INR/EURO has been the highest.
Ardo Hansson. European recovery in longer-term perspective – a view from a (s...Eesti Pank
Governor Ardo Hansson participated in a panel discussion at the seminar organised by the Peterson Institute for International Economics in Washington. 09.10.2013
Whether the ongoing, acute Euro crisis results in a stabilized Euro, a contracted Euro or total disintegration, banking and financial services (BFS) companies must prepare their operational and IT systems to accommodate any resulting changes and limit revenue losses. We offer a remediation plan to prepare for these potentially disruptive changes that could affect systems and processes such as risk management, legal and compliance, cash and liquidity management, reporting, settlement and clearing, post-trade services, channel access, trade execution and management and many more.
Presentation by Alessandro Leipold, Chief Economist, The Lisbon Council
Conference on:
“Sovereign Debt Crises: Prevention and Management"
Rome, 10 December 2018
Currency Chaos June 9 2010 T Bird Webcast Final Distributionwstagl
FiREapps CEO Wolfgang Koester, Chief Product Officer Corey Edens and Thunderbird School of Global Management Professor John Mathis discuss the impact of the ongoing european debt crisis on US multinational corporations.
2. • What is sovereign debt crisis?
• How did the Greek crisis originate ?
3/27/2013 MITSOT SYSTEM ( 2011-13) 2
3. What is sovereign debt crisis?
• Sovereign debt crisis means the sovereign
government's borrowing from domestic and
external markets is in excess of its capacity to
repay, resulting in loan defaults requiring
rescheduling of loans or bailout packages from
other countries or multilateral institutions
such as IMF.
3/27/2013 MITSOT SYSTEM ( 2011-13) 3
4. How did the Greek crisis originate ?
• The crisis in Greece surfaced in 2007-08 , when it came to
be known that Greece was not in a situation to meet its
repayment obligations to its external creditors. The budget
deficit of Greece was in the range of 13.6% of its gross
domestic product. The stock of debt was equivalent to
115% of the gross domestic product. The debt problem was
further compounded by the fact that nearly three-fourths
of the government debt was held by foreign institutions,
particularly foreign banks. Reportedly, investment banks
misled investors into investing in government bonds of
Greece by being secretive about the actual state of affairs.
The rating agencies played accomplice and allegedly 'failed'
to assess the correct fiscal position.
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5. Euro zone
• 27 members
• Freely transferring capital , goods etc
• Encourage financial activities after world war II
• NO political intervention
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6. ECB
• 1998 – Main aim is to control inflation and
have encouraging financial policies
• Common currency from Jan 1 , 1999
• Admin this currency
• Member like UK decided to go with own
currency and monitory policy
3/27/2013 MITSOT SYSTEM ( 2011-13) 6
8. Greece
• From 2000 to 2007 growth rate about 4.2%
• Deficit increased very high from 1993
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
€ billion 122.3 141 151.9 159.2 168 183.2 195.4 224.2 239.4 262.3 298.7 328.6
% GDP 94 103.4 103.7 101.7 97.4 98.6 100 106.1 105.4 110.7 127.1 142.8
GDP
3.4 4.5 4.2 3.4 5.9 4.4 2.3 5.2 4.3 1.0 –2.0 –4.5
growth
3/27/2013 MITSOT SYSTEM ( 2011-13) 8
9. Key Terms
• Bailout – Act of loaning or giving capital to an
entity that is in danger of failing , in attempt to
save it from bankruptcy
• Austerity – Policy of deficit cutting , lower
spending & reduction in public benefits or
services. While reducing spending , coupled
with increase in taxes to pay back creditors to
reduce debt.
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10. A high-yield bond (non-investment-grade
bond, speculative-grade bond, or junk bond)
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11. Important happenings
9 May , 2010
27 April ,2010 27 members of Euro
Rating decreased Zone come together
and formed EFSF
Investors may have
fear to loose 30 to 40
23 April , 2010 % of investment European Financial
Stability Facility
EU- IMF bail out World Market crashed
package
5 March,2010 Immediate €45 billions
ECONOMIC
PROTECTION BILL
Total €115 Billion
Save €4.8 Billion
5% interest rate
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12. What if Greece defaults debt ?
• Governments rarely default on the entire
value of their debt. Instead, they often enter
into negotiations with their bondholders to
agree on a delay or partial reduction of their
debt payments, which are often called a debt
restructuring or 'haircut'.
• Investor will loose money , market may
collapses
• Value of € may fall down
3/27/2013 MITSOT SYSTEM ( 2011-13) 12
13. Social & Political problem
• Social – Against Austerity
• Political willingness to help needed
• If totally bailout Greece other from PIIGS
expect the same
• Unique problem – Central monitory policy but
individuals need to run on own
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14. EURO
• We can’t predict that its end of EURO
• But certainly it raises doubts over currency
• Question over its trust of creating option of
currency reserves to £ Pounds ,¥ Yen , $ Dollar
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