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How did The bailout of Greece and failing economy was negotiated by?
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What is a accurate statement about the economy of Greece?
1. Ever since WW 2, Greece has been spending much more than it made in State income, partly because other nations always supported this with aid and loan programs. The traditionally strong influence of Communist trade unions had much to do with the loans and with Greece living beyond its means. The West during the Cold War years saw turning a blind eye to this situation as a way to keep strategically located Greece in its fold.2. Since tax dodging was a national pastime, encouraged by a very lax policy of Greece's Internal Revenue Service, Greece's economy was for a large part an 'underground' economy and still is.3. Greece's economy would already have long been bankrupt if it wasn't for billions of additional aid in the last few years.4. The aid in the form of ever higher loans to be repaid have become so high that Greece will never be able to repay them.5. The conditions of those loans are such that Greece has been forced to severely bring down ordinary Greeks' net earnings and State expenditure. This in turn has led to a severe reduction in Greece's economic activities and has further reduced its earning (and paying back-) capacity.6. The traditional 'natural' way to recovery - devaluation of its currency, making its own exports and its main source of income, tourism, cheaper and so more attractive and at the same time making imports more expensive - is blocked: Greece is tied to the Euro and so is in the 'unnatural' position of an extremely weak economy with an - in relation to that - extremely strong currency that makes growth through export gains and tourism income impossible.7. More than 80% of all the new loans are not used to restructure Greece's economy and help boost its earning capacity; practically all the money has been used to make Greece pay back the loans extended in the past by mostly EU banks. These have now been saved from taking enormous losses on the outstanding Greek debt that they held. Instead, EU taxpayers' money has now replaced the debts to EU banks.
Water systems that contribute to ancient Greece's livelihood?
Greece is a country in southeastern Europe. Water systems that contribute to ancient Greece's livelihood was trading through sea.
How was life in Greece different under Alexander than it had been during the golden age?
Under Alexandeer Greece have a better army.
The Mycenaeans controlled the country of?
The Mycenaeans controlled the areas of Greece, Turkey, and the surrounding islands in the Aegean sea.
What is the best known country?
Greece
Why does Greece need a bailout?
Because The Greek society as a whole spent for seceral decades more than their economy created value.
Is Greece going to be kicked out of the EU?
The last I had heard, the European Union refused to allow Greece to leave. It is my understanding that Greece wants out to help recover it's economy. Greece is not going to be kicked out of the EU simply because its economy is failing. Greece is not the only EU member with strong economic problems. Spain, a much larger economy, is on the brink of becoming another "Greece". Greece has been bailed out, so its economy is given time to recover, in which its debt rate has fallen 40% due to the German bailout. Again, just because Greece's economy is failing doesn't mean they will be kicked out. In fact, it means the opposite. Greece is top priority for the European Union now, and every member is helping to keep Greece afloat. The EU, being a supranational organization, has all its members economies intertwined, so all members must work together to sustain each others' economies. The total destruction of the Greek economy will harm the entire world, but simply leaving the EU won't help the situation, it would worsen it.
What type of economy system does Greece have?
Greece has a Capilatist Economy.
What type of economy does Greece have?
Capilatist Economy (:
How is greece's economy different form Italy's economy?
Italy has fewer foreign debts and is much better than Greece's economy. Greece accounts for less than 2 per cent of the EU economy.
Is Greece market or command economy?
Market economy
What type of economic system does Greece have?
Greece is a capitalist economy
What did greece's economy heavily rely on?
Because of Greece's location, it relied mostly on fishing and trading. Nowadays, Greece's economy depends heavily on shipping and tourism.
How did the location of Greece help its economy?
because it does
What did tourism do for Greece?
It helped the economy of the country.
What is true of Greece's relationship with the sea?
Shipbuilding is an important industry in Greece.
What are the mistakes of league of nation in the Corfu incident?
The League of Nations should have tried to have better relations with Greece in the Corfu incident. They also could have negotiated with the Italians to prevent them from attacking Greece.
