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
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
The Greek Financial Crisis has become a major issue in Greece and in Europe. This slideshow will discuss you with the background, effects, reasons, and future outloo k
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.
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
To revitalize the economy in Eurozone, different monetary and fiscal policies have been considered and implemented. In the presentation, we also suggested our monetary and fiscal policies for year 2015 based. This slides were presented for professor Daniel Fernandez Kranz's Managerial Economics at IE Business School MBA.
Greece's crisis deepens as fast as its debt. 2011 budget execution is terrible with tax receipts well below plans, and there is no way Greece will get out the crisis without defaulting on its debt obligations one way or an other (the latest idea is to call it "reprofiling"!) .
The Greek Financial Crisis has become a major issue in Greece and in Europe. This slideshow will discuss you with the background, effects, reasons, and future outloo k
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.
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
To revitalize the economy in Eurozone, different monetary and fiscal policies have been considered and implemented. In the presentation, we also suggested our monetary and fiscal policies for year 2015 based. This slides were presented for professor Daniel Fernandez Kranz's Managerial Economics at IE Business School MBA.
Greece's crisis deepens as fast as its debt. 2011 budget execution is terrible with tax receipts well below plans, and there is no way Greece will get out the crisis without defaulting on its debt obligations one way or an other (the latest idea is to call it "reprofiling"!) .
The 1st Poster session about the EU history, institutions and budget was held the 10th of October 2013. Professors and students from “The economics of Spain and the EU” module in Economics and Business faculty, Oviedo University (Spain) discussed about several topics the students had prepared and presented through posters. In this ppt all the posters presented can be consulted.
The United Nations Conference on Trade and Development (UNCTAD) - Internation...manumelwin
The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 as a permanent intergovernmental body. UNCTAD is the principal organ of the United Nations General Assembly dealing with trade, investment, and development issues.
This presentation explores the causes of the European debt crisis, timeline of the crisis, its extent, how it is being addressed, who is to blamed for the crisis and how it affects us.
Greece-crisis is an article explains about the major crisis which hit the Greece during July- 2015 which is still surviving.The reasons why still Greece crisis is surviving.
Since the publication in July of stress test for banks in Europe, everything went quiet on the PIGS debt crisis with no much news during the summer. Things however are boiling again and Greek will come back to the forefront of medias sooner rather than later.
The EUR 110 billion IMF and eurozone rescue package this weekend will not save Greece from a debt rescheduling. As for Portugal and Spain; but watch France and Italy...
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Card
The history of EU and its current situation.
1. The history of EU and its current
situation:
- How Greece economic instability is threatening the entire
stability of EU.
Presented By,
Rajashree Swain
Asia Pacific Institute of Management
New Delhi
2. Introduction to EU ( An abstract to EU)
Current EU economy ( An overlook to the economy of
countries under EU)
The History of EU Economy ( 1945- Today)
Greece Economy (Current, 2010-15 Govt. debt crises,
disadvantages towards EU)
Recommendation
Conclusion ( Allan GreenSpan)
AGENDA:
3. Prof. Shiladitya Dasgupta for his instructions.
http://www.bbc.com/news/world-europe-33225461
http://themarketmogul.com/europe-existential-crisis/
https://europa.eu/european-union/index_en
https://europa.eu/european-union/about-
eu/history_en
https://en.wikipedia.org/wiki/Greek_government-
debt_crisis
Special Thanks to..
4. Introduction to EU:
1. The European Union (EU) is a
political and economic union of
28 member states that are
located primarily in Europe.
2. It has an area of 4,475,757 km2
(1,728,099 sq. mi), and an
estimated population of over 510
million.
3. The EU has developed an
internal single market through a
standardized system of laws that
apply in all member states.
5. Cont…
4. EU policies aim to ensure the free
movement of people, goods, services,
and capital within the internal market,
enact legislation in justice and home
affairs, and maintain common policies
on trade, agriculture, fisheries, and
regional development.
5. Within the Schengen Area, passport
controls have been abolished.
6. A monetary union was established in
1999 and came into full force in 2002,
and is composed of 19 EU member
states which use the euro currency.
6. GDP (PPP) 2016 Estimate
Total $ 19973 Trillion
Per Capita $39212
GDP (Nominal) 2016 Estimate
Total $16,518 Trillion
Per Capita $32,384
7. Current EU Economy:
The European Union has established a single market across the
territory of all its members representing 510 million citizens. In 2014,
the EU had a combined GDP of 18.640 trillion international dollars, a
20% share of global gross domestic product by purchasing power
parity (PPP). As a political entity the European Union is represented
in the World Trade Organization (WTO). EU member states own the
estimated largest net wealth in the world, equal to 30% of the $223
trillion global wealth.
19 member states have joined a monetary union known as the
eurozone, which uses the Euro as a single currency
8. Of the top 500 largest corporations in the world measured by revenue in
2010, 161 have their headquarters in the EU.. n 2016, unemployment in the
EU stood at 8.9%.while inflation was at 2.2%, and the current account
balance at −0.9% of GDP. The average annual net wage in the European
Union was around $20,000 in 2015, which was about half of that in the
United States.
There is a significant variance for GDP (PPP) per capita within
individual EU states. The difference between the richest and poorest
regions (276 NUTS-2 regions of the Nomenclature of Territorial Units for
Statistics) ranged, in 2014, from 30% of the EU28 average to 539%, or
from €8,200 to €148,000 (about US$9,000 to US$162,000)
9. The five largest economies in the world according to the IMF by
Nominal GDP in 2015:
10. The History of European Union:
1945 - 1959
A peaceful Europe – the
beginnings of cooperation.
1960 - 1969
A period of economic growth.
1970 - 1979
A growing Community – the first enlargement.
1980 - 1989
The changing face of Europe - the fall of the Berlin Wall.
13. Many countries joined the Euro without respecting all the
rules and flawing their numbers.
For example, Greece entered the Eurozone with a budget deficit of
3.38% of GDP, exceeding the 3% limit. Moreover, the Euro was
launched without fiscal policy, which makes the Euro adopt a policy
of Laissez Faire.
The lack of fiscal policy gives less control over the currency and the
overall economy, especially during recessions. This lack of control
helps countries to hide their true numbers using intricate derivatives.
EU Crisis:
14. This is the case of Greece that used Goldman Sachs’ derivatives
swaps; buying other currencies and selling euro to disguise their
numbers.
Further, one may think that the low cost of borrowing that countries
of the Eurozone benefited from was a great advantage of the
currency.
But as Spain entered the Eurozone, it became eligible to borrow at
very low interest rates, which considerably raised its debt, and it is
also the case for other European countries that sunk in debt and are
now in crisis.
Cont….
15. Greece applied to join the European Community in
1975. It was not greeted with open arms.
Greece’s entry was a way to ensure democracy and
stability in southern Europe at the height of the cold
war.
Greece was the model, Spain and Portugal followed,
joining in 1986. But Greece was also a warning: levels
of corruption were worse than the European average,
the state was poor at collecting taxes.
Entry of Greece:
16. Economy of Greece :
The economy of Greece is the 46th largest in the world with a nominal gross
domestic product (GDP) of $194.851 billion per annum.[4] It is also the 54th
largest in the world by purchasing power parity, at $288.245 billion per annum.
Greece was accepted into the Economic and Monetary Union of the European Union
by the European Council on 19 June 2000, based on a number of criteria (inflation
rate, budget deficit, public debt, long-term interest rates, exchange rate) using 1999
as the reference year. After an audit commissioned by the incoming New Democracy
government in 2004, Eurostat revealed that the statistics for the budget deficit had
been under-reported.
19. 2010–2015 government debt crisis:
According to Der Spiegel, credits given to European governments were
disguised as "swaps" and consequently did not get registered as debt because
Eurostat at the time ignored statistics involving financial derivatives.
These conditions had enabled Greek as well as many other European
governments to spend beyond their means, while meeting the deficit targets of
the European Union and the monetary union guidelines. In May 2010, the
Greek government deficit was again revised and estimated to be 13.6% which
was the second highest in the world relative to GDP with Iceland in first place at
15.7% and Great Britain third with 12.6%. Public debt was forecast, according
to some estimates, to hit 120% of GDP during 2010.[
20. As a consequence, there was a crisis in international confidence in Greece's ability to
repay its sovereign debt, as reflected by the rise of the country's borrowing rates
(although their slow rise – the 10-year government bond yield only exceeded 7% in
April 2010 – coinciding with a large number of negative articles, has led to arguments
about the role of international news media in the evolution of the crisis).
In order to avert a default (as high borrowing rates effectively prohibited access to the
markets), in May 2010 the other Eurozone countries, and the IMF, agreed to a "rescue
package" which involved giving Greece an immediate €45 billion in bail-out loans, with
more funds to follow, totaling €110 billion.In order to secure the funding, Greece was
required to adopt harsh austerity measures to bring its deficit under control
21. According to Fortune, once the Greek break out of the
euro, the central bank would pursue and expansionary
monetary policy by lowering interest rates and printing
money which would cause inflation to soar.
Nomura’s Jens Nordvig, one of Wall Street’s top
currency strategists, predicts the implied annual inflation
to be around 8.6% and based on this inflation figure, the
drachma is expected to plunge by around 43%. So if
drachmas begin at one drachma per Euro then it is
predicted that the conversion rate would depreciate to
two to one.
How Greece economic instability
is threatening the entire stability
of EU.
22. A currency’s valuation will be painful but it will eventually give a
boost to the Greek economy making its exports cheaper. It is
predicted the one off 30% devaluation of the drachma would push
the economy by 20%. So as long as Greek banks do not fail, the
drachma could be a better than expected means to an end.
On the other hand, if the drachma is to become Greek’s currency
again, the European creditors would lose hundreds of billions. An
amount of 240 billion euros to the government along with 89 billion
euros as loans from the ECB to Greek banks might be defaulted in
case of a Grexit. Borrowing costs should rise for Italy, Portugal,
and Spain as a contagion effect but the fact is the ECB is buying
their bonds as part of the quantitative easing which might put a
ceiling on their rising yields.
Moreover, the euro would depreciate as a result of uncertainty over
the Grexit boosting their exports.
Cont…
24. GREECE
1
2
3
Grexit after attempted
Eurozone negotiations
will integrate.
Greek banks collapse
leading either to
Eurozone rescue deal or
to Grexit.
Greek mandate
persuades Eurozone
leaders to agree to
revise deal.
DEAL
EXIT
25. “The Euro can only be saved via a real political union. I don’t believe that a
common economic and currency area can function in the long term if it is
made up of 17 countries with 17 different social systems. The Eurozone needs a
complete political union, comprising either all member states or a core Europe.
That is the only way the Eurozone isn’t going to break up”.
---Allan Greenspan, ex-Chairman of the Federal Reserve
Conclusion