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GREECE DEBT CRISIS Final Presentation 1

GREECE DEBT CRISIS Final Presentation 1

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Published by Abhinandan Kumar

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Published by: Abhinandan Kumar on May 08, 2010
Copyright:Attribution Non-commercial

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10/18/2011

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Page 1
GREECE DEBT CRISIS
HIMANSHU CHANDRA
 
Page 2
Why
 
has
Greece G
a
rnered
so
muc
h
Attenti
o
n l
a
tel
y?
 A c
o
untr 
y
 
of 
11.2 milli
o
n
a
nd GDP
of 
US$ 360 billi
o
n, repre
s
enting 2.8%
of 
 Eur 
ozo
ne
a
nd 27t
h
bigge
s
t ec
o
n
o
m
y
in t
h
e w
o
rld
H
as
 
o
ne
of 
t
h
e
h
ig
h
e
s
t debt-GDP r 
a
ti
os
in t
h
e w
o
rld: 113%
of 
GDP
H
as
 
o
ne
of 
t
h
e
h
ig
h
e
s
t budget de
icit
s
in t
h
e w
o
rld: 12.9%
of 
GDP
H
as
 
a
l
a
rge current
a
cc
o
unt de
icit: 11.0%
of 
GDP
H
as
 
a
 
h
ig
h
degree
of 
net
fo
reign debt: 70%
of 
GDP
H
as
n
o
t
ha
d
a
credible
in
a
nci
a
l rep
o
rting
of 
it
s
 
i
s
c
a
l p
os
iti
o
n
I
s
viewed
as
t
h
e
ir 
s
t d
o
min
o
in
a
p
o
tenti
a
l
ir 
s
t w
o
rld
so
vereign debt cri
s
i
s
Greece¶
s
t
o
t
a
l
o
ut
s
t
a
nding public debt
a
m
o
unt
s
t
o
290 billi
o
n eur 
o
I
Greece were t
o
de
fa
ult
o
n it
s
debt p
ay
ment
s
it w
o
uld
a
m
o
unt t
o
t
h
e bigge
s
t
so
vereign de
fa
ult in
h
i
s
t
o
y
, bigger t
ha
n t
ha
t
of 
Ru
ss
i
a
 
a
nd Argentin
a
c
o
mbined
I
Greece were t
o
de
fa
ult, it w
o
uld r 
a
i
s
e
e
a
s
t
ha
t t
h
e cri
s
i
s
will
s
pre
a
d t
o
 
o
t
h
er Eur 
ozo
ne member 
s
 
a
nd t
h
i
s
c
o
uld c
a
u
s
e t
h
e c
o
ll
a
p
s
e
of 
t
h
e eur 
o
currenc
y
Greece
has
t
h
e w
o
s
t c
o
mbin
a
ti
o
n
of 
 
h
ig
h
debt level, l
a
rge budget de
icit
a
nd l
a
rgeextern
a
l debt
 
Page 3
Why
 
has
Greece G
a
rnered
so
muc
h
Attenti
o
n l
a
tel
y?
Since it j
o
ined t
h
e Eur 
ozo
ne, it
has
ceeded c
o
ntr 
o
l
of 
m
o
net
a
y
p
o
lic
y
t
o
t
h
eECB
a
nd c
a
n n
o
l
o
nger print m
o
ne
y
Wa
ge
s
 
ha
ve ri
s
en
fas
ter t
ha
n in Germ
a
n
y
 
a
nd
has
n
o
t
a
d
a
pted it
s
ec
o
n
o
m
y
 
a
pidl
y
en
o
ug
h
t
o
gl
o
b
a
l c
o
mpetiti
o
n, e
s
peci
a
ll
y
 
o
m A
s
i
a
T
w
o
 
of 
it
s
l
a
rge
s
t indu
s
trie
s
, m
a
ritime
sh
ipping
a
nd t
o
uri
s
m were
h
it
s
tr 
o
ngl
y
 
o
m t
h
e gl
o
b
a
l ec
o
n
o
mic d
o
wnturn
Th
e Eur 
ozo
ne
has
n
o
t injected t
h
e
sa
me degree
of 
m
o
net
a
y
liquidit
y
 
as
didt
h
e UK
a
nd t
h
e USA w
h
ile t
h
e ECB
has
m
a
int
a
ined
a
m
o
re c
o
ntr 
a
cti
o
n
a
y
 m
o
net
a
y
 
s
t
a
nce t
ha
n t
h
e
o
t
h
er tw
o
centr 
a
l b
a
nk
s
Th
e eur 
o
 
has
 
a
ppreci
a
ted b
y
 
a
b
o
ut 65%
s
ince 2001
a
g
a
in
s
t t
h
e US D
o
ll
a
a
ndb
y
47%
a
g
a
in
s
t t
h
e C
h
ine
s
e Yu
a
nBut bec
a
u
s
e it p
a
rt
of 
t
h
e Eur 
ozo
ne,
has
given up c
o
ntr 
o
l p
m
o
net
a
y
p
o
lic
y
 
a
ndt
h
e printing pre
ss

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