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Greek Financial Crisis
Transcript of Greek Financial Crisis
-$21 Billion $43 Billion Deficit GDP Financing Public Debt €303 billion 132% of
GDP package: €110 bn €109 bn $305 billion
€234 billion 1. Years of unrestrained spending. 2. 4.Austerity Measures 3. 5.Debt and Deficits exceeded limits. 6.Streets Explode. 100,000 peaceful anti-austerity protesters in front of the parliament of Greece on 29 June 2011 Financial crisis hitting the Euro zone EU Rescue Plan Agreed for Tourism is the main income for Greece 15% GDP Greece
Default Value of bonds plummets Domestic Banking system faces wipe out Urgent need for Money to pay bills and support banks Run on banks Eurozone banks take a hit No Lending for government Government stops paying bills Economy Stalls Social misery Civil servants sacked Street Explodes Options Move to restore national currency New Loans Stay in Euro Cash Machines Close Who is NEXT ? ` Default Contagion spread Value of bonds plummets Credit Crunch Economy Stall Others Pay Debt Streets Explode EXIT EURO Following the Greece Path Euro Breakup ! Future of & Do you think the Euro still got a chance to survive ? Import Export Trade Balance Say Something about those pictures How Greeks bless the prom queen ! Had an Interview before ? wanna feel like an Interviewer ? lets check this out Q Refrences http://news.bbc.co.uk http://www.guardian.co.uk http://www.imf.org/ Book: Paradigm Lost - The Euro In Crisis There is no Fix for the crisis and it will continue for several years. If the European Union members give up there sovereignties ;Union will survive, If they didn’t ,Then the European union will not survive. Greece needs more time to repay debt What did you hear recently about Greece ? Crisis BONDS Greece Financial The