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Greece in the European Union

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by

Kim eubanks

on 16 October 2013

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Transcript of Greece in the European Union

Greece in the European Union
Strength of Support for EU
56% Greeks don't feel like a part of the EU
69% pessimistic of success of EU
60% of Greeks still in support of the EURO
89% believe that voice is not important in the EU
Most Greeks still in favor of EU
Country Overview
- Population: 11.4 Million
- Staggering debts have sent Greece into continual recession
- Current political unrest due to austerity measures
- 26.8% Unemployment
- Current Debt: around 160% GDP

-Joined EU in 1981
-Adopted Euro in 2001
-All requirements were met:
Inflation rates below 1.5%
Government debt below 60%
No devaluation of currency under the Exchange Rate Mechanism for 2 years
Interest rates no higher than 2% above the 3 lowest inflation rate states
Meeting the Criteria
Economic Effects
Economic recession could be worse in Greece without EU
Greece affects the world economy
Industrial production down 8%
Building activity down 73.1%
Retail saw 9% decline in turnover

Germans determined to keep Greece in the EU
Rise of Golden Dawn: spawned from economic crisis
Recent decline
Mixed opinions from other countries
Public Opinion
Initial Joining of the EU
Greece claimed economic stability to meet EU standards
Joining in the Eurozone only possible through under-reported deficit
Credibility of Euro in jeopardy with rising Greek Debt
Full transcript