The Financial Crisis And Its Impacts On Greece
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The Financial Crisis And Its Impacts On Greece
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Author : Richards Macdonald
language : en
Publisher: GRIN Verlag
Release Date : 2013-04-22
The Financial Crisis And Its Impacts On Greece written by Richards Macdonald and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-22 with Business & Economics categories.
Bachelor Thesis from the year 2012 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, The University of Chicago, language: English, abstract: In 2008, the world witnessed economic turndown of the most dangerous nature since the Great Depression of the 1930s. It all began in 2007 when high home prices in the United States turned downward that spread quickly to the entire US financial sector and then to financial markets globally. The overall casualty in the United States included the biggest insurance company, the entire investment banking industry, the largest mortgage lender, two of the largest commercial banks and the largest savings and loan. The impact of downfall in the United States had a huge impact globally and specifically the European countries. The worst hit country by financial turn down was Greece (Salas et al, 2010). Greece even before joining the Euro was living beyond its means. After adopting single currency, public spending soared. Between 1999 and 2007, public wages increased by 50%, faster than most of the countries in Eurozone. The government also hosted 2004 Athens Olympics and piled up debt. The debt in Greece kept soaring till the point where the country was no longer able to repay its debts. Greece was forced to ask for help from the IMF and European parts in the form of massive loans (Shiller, 2008). This research analyzes the global financial crisis and its impacts on Greece. It analyzes the austerity measures taken up by Greece and its impacts on the country. The research analyzes the bail outs that were granted to Greece to save the country from defaulting. IMF, World Bank and European Central Bank helped Greece by providing loans along with strict austerity measures by the economy of Greece had continuously shrank and the situation is not getting any better. The aims and objectives of the research include: • Analyzing the current financial crisis in Greece • Analyzing if there is any opportunity present in Greece for economic revival • Proposing a plan for revival of Greece’s economy For analyzing the financial situation of Greece, secondary data was used for extensive and in-depth analysis. The secondary research data sources included books, case studies, articles and literature review. With this methodology, the research investigated and analyzed the weaknesses and strengths of steps that were taken in Greece in order to counter the financial crisis. The analysis revealed that it was the poor taxation policies and economic structure that contributed to the worsening financial situation of Greece.
The Euro Crisis Causes And Consequences Of The Greek Debt Crisis On The Euro Zone
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Author : Inga Rathje
language : en
Publisher:
Release Date : 2019-12-13
The Euro Crisis Causes And Consequences Of The Greek Debt Crisis On The Euro Zone written by Inga Rathje and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-13 with categories.
Seminar paper from the year 2018 in the subject Economics - Finance, grade: 1,3, University of Applied Sciences Essen, language: English, abstract: In this paper, these effects as well as the connection between the Greek crisis and the euro crisis are examined. To begin with, an insight into the causes of the debt crisis in Greece and how the crisis has spread to the eurozone. This will be followed by the euro crisis in general and its other causes. The fifth chapter deals with measures and solutions for Greece as well as the entire euro zone. This work finishes with a conclusion on the topics mentioned. In recent years, the news and media have dealt extensively with the "euro crisis". For this reason, it should be a common term for any European. The euro crisis isn't about the euro, but about a currency, bank, economic crisis and about state debts. Because of the different opinions about the crisis' causes, this topic is a very controversial one. It is common that the global financial crisis, which resulted from the Lehmann bankruptcy in 2008, is being considered responsible for the euro crisis. However, the global financial crisis wasn't accountable. There are other reasons for the outbreak of the euro crisis, such as the existing weaknesses of a system, which was already missing in structure, or America's financial crisis. Not to forget, however, is the "Greek crisis" and its impact on the euro zone.
The European Sovereign Debt Crisis And Its Impacts On Financial Markets
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Author : Go Tamakoshi
language : en
Publisher: Routledge
Release Date : 2015-02-11
The European Sovereign Debt Crisis And Its Impacts On Financial Markets written by Go Tamakoshi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-11 with Business & Economics categories.
The global financial crisis saw many Eurozone countries bearing excessive public debt. This led the government bond yields of some peripheral countries to rise sharply, resulting in the outbreak of the European sovereign debt crisis. The debt crisis is characterized by its immediate spread from Greece, the country of origin, to its neighbouring countries and the connection between the Eurozone banking sector and the public sector debt. Addressing these interesting features, this book sheds light on the impacts of the crisis on various financial markets in Europe. This book is among the first to conduct a thorough empirical analysis of the European sovereign debt crisis. It analyses, using advanced econometric methodologies, why the crisis escalated so prominently, having significant impacts on a wide range of financial markets, and was not just limited to government bond markets. The book also allows one to understand the consequences and the overall impact of such a debt crisis, enabling investors and policymakers to formulate diversification strategies, and create suitable regulatory frameworks.
The Internal Impact And External Influence Of The Greek Financial Crisis
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Author : John Marangos
language : en
Publisher: Springer
Release Date : 2017-08-03
The Internal Impact And External Influence Of The Greek Financial Crisis written by John Marangos and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-03 with Business & Economics categories.
This contributed volume explores the political economy and socioeconomic aspects of the Greek Financial Crisis both within the country's borders and as part of the global economy. With chapters authored by international experts, this book examines and explicitly deals with specific and important issues that have been ignored by the dominant socioeconomic theory and practice, which have largely focused on the causes and broad economic consequences of the crisis. Discussions include the efficacy of new EU institutions created to address the crisis, the rise of unregistered economic activity, and comparisons with financial crises in countries beyond Europe. This diverse collection argues that the Greek Financial Crisis was not just an economic crisis, but a political and social crisis as well, one with repercussions beyond Europe.
Economic Crisis Health Systems And Health In Europe
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Author : Sarah Thomson
language : en
Publisher: Open University Press
Release Date : 2015-07
Economic Crisis Health Systems And Health In Europe written by Sarah Thomson and has been published by Open University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07 with Europe categories.
Economic shocks pose a threat to health and health system performance by increasing people's need for health care and making access to care more difficult - a situation compounded by cuts in public spending on health and other social services. But these negative effects can be avoided by timely public policy action. While important public policy levers lie outside the health sector, in the hands of those responsible for fiscal policy and social protection, the health system response is critical. This book looks at how health systems in Europe reacted to pressure created by the financial and economic crisis that began in 2008. Drawing on the experience of over 45 countries, the authors:' analyse health system responses to the crisis in three policy areas: public funding for the health system; health coverage; and health service planning, purchasing and delivery 'assess the impact of these responses on health systems and population health' identify policies most likely to sustain the performance of health systems facing financial pressure' explore the political economy of implementing reforms in a crisisThe book is essential reading for anyone who wants to understand the choices available to policy-makers - and the implications of failing to protect health and health-system performance - in the face of economic and other forms of shock.--
Living Under Austerity
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Author : Evdoxios Doxiadis
language : en
Publisher: Berghahn Books
Release Date : 2018-07-20
Living Under Austerity written by Evdoxios Doxiadis and has been published by Berghahn Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-20 with Social Science categories.
Since its sovereign debt crisis in 2009, Greece has been living under austerity, with no apparent end in sight. This volume explores the effects of policies pursued by the Greek state since then (under the direction of the Troika), and how Greek society has responded. In addition to charting the actual effects of the Greek crisis on politics, health care, education, media, and other areas, the book both examines and challenges the “crisis” era as the context for changing attitudes and developments within Greek society.
Game Over
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Author : George Papaconstantinou
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2016
Game Over written by George Papaconstantinou and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Financial crises categories.
"In this real-life political thriller, former Finance Minister George Papaconstantinou tells the inside story of the six years during which the Greek drama changed Europe and riveted the world. It is the story of a country forced by past mistakes into unprecedented actions with enormously painful consequences. A story about the people who shaped events by trying to respond to rapidly evolving circumstances often beyond their control. About decisions - good and bad, right and wrong - taken in official and behind-the-scenes gatherings in Brussels, Berlin, Frankfurt, Paris, London, New York, Washington and Athens; in Luxembourg châteaux courtyards, Davos kitchens and Bilderberg gatherings; in elegant offices and dreary basement meetings rooms.... Six years down the road since the crisis erupted, Greece is in its third bailout, still in a severe social and economic crisis, and there are so many questions. Were other solutions available? Should Greece have threatened to default in order to get a better deal? Should there have been debt relief from the beginning? Would Greece have been better off if it had left the Euro? Has Greece saved the Euro but not itself? The book addresses these questions with the eye of someone at the heart of decision-making during the crisis."--
Cyprus And The Financial Crisis
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Author : John Theodore
language : en
Publisher: Springer
Release Date : 2016-01-12
Cyprus And The Financial Crisis written by John Theodore and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-12 with Business & Economics categories.
The 2012-2013 economic crisis in the Republic of Cyprus is commonly attributed to a number of factors, including the exposure of Cypriot banks to over leveraged local property companies; the knock-on effect of the Greek government debt crisis; and international credit rating agencies downgrading the Cypriot government's bond credit status. What followed was unexpected and controversial: a bailout on condition of a one-time bank deposit levy on all uninsured deposits in the country's second-largest bank, the Cyprus Popular Bank; and on the uninsured deposits of large proportion of the island's largest commercial bank, the Bank of Cyprus. Many have questioned the implications of Cyprus' ties with the Russian financial system, as well as the draconian and unprecedented bailout terms imposed on the Cypriot population by the Eurozone. There has been little written from the Cypriot perspective on these events. This book presents a study of the events surrounding the recent Cypriot Financial Crisis and its impact on the Eurozone. It incorporates insights from leading protagonists in the Cypriot government and banking sectors and focuses on qualitative research to assess the events that formed the backdrop of the crisis. The book analyzes the policies of many public and private institutions and presents the crisis alongside other Eurozone bailouts to compare and contextualize the ongoing issues. Cyprus and the Financial Crisis also explains the political and historical backdrop of the events, including the wider Cypriot experience since the 1974 invasion, and the unravelling financial relationship between Cyprus, Greece and Russia. It incorporates the views of Cypriots from a wide and diverse spectrum, and presents the resilience of the island in fighting back to beat forecasts for recovery, helped by the Eldorado of gas finds off its southern shores.
The Greek Economy And The Crisis
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Author : Panagiotis Petrakis
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-10-27
The Greek Economy And The Crisis written by Panagiotis Petrakis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-27 with Political Science categories.
The book “The Greek Economy and the Crisis. Challenges and Responses” targets all those who think about the present and future of this (culturally) long-lived small geographic region (Greece), to form a personal view of its social and economic problems. A society that repeats the same types of behaviour over the centuries does not do so due to random mistakes. It contains intrinsic forces that affect it. These should be understood, to allow us to delineate future developments. However, the manner in which the social and economic process is perceived must be comprehensive and multidisciplinary: Economics, politics, social psychology and organizational psychology are essential to this analysis. Thus, the book is useful to those seeking information for their professional, scientific and personal development, allowing them to shape their social attitude. It is also useful to those responsible for taking decisions at national, European or enterprise level, in relation to the social and economic problems of Greece.
Reflections On The Greek Sovereign Debt Crisis
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Author : Aristidis Bitzenis
language : en
Publisher: Cambridge Scholars Publishing
Release Date : 2014-09-26
Reflections On The Greek Sovereign Debt Crisis written by Aristidis Bitzenis and has been published by Cambridge Scholars Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-26 with Political Science categories.
The euro was generally considered a success in its first decade. Nevertheless, the “unanticipated” financial crisis in the summer of 2007 has developed gradually into the worst global economic crisis in post-war economic history and a sovereign debt crisis, calling into question the endurance of positive externalities under the current form of European economic integration. The experience of double-dip recessions in the core of the euro-area and the occurrence of a deflationary spiral in its southern periphery brings into question the wisdom of fiscal consolidation via austerity in the adjustment programmes adopted to exit the crisis. They also put into doubt the adequacy and efficiency of the European Economic and Monetary Union’s core elements, its political instruments and macroeconomic assumptions, as can be seen in the role of the Stability and Growth Pact and the stance of the European Central Bank. The title of this collective volume refers to the country where the European sovereign debt crisis began, while its contents concentrate on the extent to which this crisis should be a national or a European concern. Moreover, the focus on Greece stimulates discussion about the neglected factor of the shadow economy and the potential to boost government revenue through its successful transfer to the formal economy. The chapters address the inefficiencies of both euro-area institutions and policies adopted to exit the current predicament. Experts from several disciplines review the literature and critically evaluate the existence of issues such as contagion effects, domino effects, deflationary spirals, institutional efficiency and the reality of the option to exit the euro-area.