Essay on Greece And The Eurozone Crisis

841 Words Sep 21st, 2015 4 Pages
Greece and the Eurozone Crisis The current crisis in Europe was caused by many factors, one of the biggest being the crisis in the United States in 2008 transmitting over into other parts of the world, such as Europe. Perhaps the single most influential factor to start this crisis began when Europe tried to become more like the United States in its way of being unified with a single currency. In Europe, each country’s economy is very different. The price of Euros appropriate for each country varies, but the European Union had to make it consistent across the board. This causes problems for richer and more developed countries, such as Germany, as well as poorer and less developed economies, such as Greece. Initially, joining the Euro was great because people trusted in investing their money in their country, but their economy was still poorer and less developed than others. Greece is still in a terrible place with unemployment rates still soaring in the mid- twentieth percentile (Focus Economics, 2015). This being said, people of authority as well as citizens in Greece and other countries involved in the Euro crisis are contemplating the worst and best cases. From the perspective of a Greek citizen, I will explain the best and worst case scenarios, as the best course of action. Due to the major crisis in Greece, the Greek citizens are struggling on a daily basis. The only help that has been offered has come in a bailout package from the EU and International Monetary Fund…

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