Greece Crisis

GREECE CRISIS

MONEY BANKING AND PUBLIC FINANCENAME- ADITYA SUBBA
REG NO-12A011
EMAIL ID- [email protected] ABSTRACTThroughout this paper, the Greek debt crisis is analyzed at full extent. Starting by presenting the structure chosen for the paper and the methods used for academic analysis, focus is poised to all the factors that lead to this crisis. By presenting both quantitative and qualitative sources, the origins of the crisis are adduced taking into consideration the last 50 years of political and financial developments in Greece. The fact that a considerable time spread is used assists the readers to comprehend all the internal and external aspects that lead to the crisis. In order to put the current fiscal predicament of Greece in perspective and discuss how the Greek debt crisis might possibly be resolved, the paper first provides a detailed account of how the sovereign debt of Greece was accumulated and then stabilized relative to GDP. We address the question of solvency, and whether the current program is sufficient for the resolution of Greece’s debt crisis .The paper concludes giving the importance of legal analysis in tackling the confidence crisis. GREECE CRISIS
INTRODUCTIONGreece is a member of the twenty-seven-membered European Union. As a developed country, Greek economy mainly revolves on the service sector and industry and only a small percent on agriculture.
Early in 2009, the Greek government suffered a major economic confrontation. It started when George Papandreou took over as prime minister in October 2009 and found…