Greece and the International Financial Crisis: Past, Present and Future. How did Greece get in this mess? What were the forces bringing the big bang of October-December 2009? Greece is a very old country. Elements such as the language have been continuously present for thousands of years.
How did Greece get in this mess? What were the forces bringing the big bang of October-December 2009?
Greece in the 20th century: a period of poor evolution of the state
As a result…
And then came the E.U….
The underlining principle should be predictable processes.
History of the Crisis
2006 in the US:
2008 in the US and abroad
EU in 2009
Source: New York Times
Europe’s Web of Debt
Therefore, how has the Financial Crisis affected Greece?
Greece was caught with deep routed vulnerabilities:
The key challenge has been to fight with its original sin to convince the markets and its counterparts that it can seriously and sustainably restore:
The reform package and the growing pains of the EU- Have they lead to a safe “Program for Greece and the EURO?”
THIS IS OUR OPPORTUNITY!!! This is Europe’s Opportunity! Let us not miss the Opportunity to miss the Opportunity
Already implemented structural reforms to restore competitiveness and growth:
Greece needs to be given the time to implement the program, the time to try to reverse the trend
Wake-up call for the EU and the world