Essay about Crisis Between Greece And Greece

798 Words Apr 28th, 2015 4 Pages
Crisis In Greece The country of Greece is located in the southern part of Europe, on the eastern edge of the Mediterranean Sea. Greece joined the Eurozone expecting it to help the countries economic and financial power, but in the recent months the Eurozone and Greece have not been on very good terms. The Eurozone is comprised of 19 countries that all agreed on using the same currency, the euro. Greece is facing a debt that could completely bankrupt it, and if a deal is not made with the European Union (EU) and the International Money Fund (IMF) for a bailout the country could fall and people could really start being effected. Frist, the reasons why Greece is in crisis mode will be presented. Second, what is being done to fix Greece’s problems, and lastly what the possible future of Greece looks like. In January the left-wing party SYRIZA won a legislative election for the first time ever. Now, this is the first major problem that Greece is facing. The current Greek government is facing a huge credibility problem, which makes the resolution to the crisis harder to obtain simple because no one trusts them. “Any announcement by the Greek government about its intention to redress the budgetary situation will be met by great skepticism for years to come.” (De Grauwe). The next major reason Greece is in crisis mode is from the financial markets. The bond markets can go from a sunny day into a class 5 hurricanes within a few weeks. The countries that acquire these bonds,…

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