Greece Crisis In Greece

798 Words 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 …show more content…
As just stated before Greece’s relationship with Russia can go many different ways. By signing that deal Russia would control most of the oil that runs through Europe. Another possible move for the future could be a bailout. The IMF and EU could give in to the demands of the Greeks, and relieve them of what they owe. Even though that’s highly unlikely it could still happen. The most obvious and feared move is Greece dropping out of the Eurozone completely. It could then influence other countries to leave as well, then most likely leading to the collapse of the Euro. Greece’s future is like a path that splits into 10 different directions, if nothing is solved and the country doesn’t work out its debt the country could be facing what Ireland faced a few years back. For example a housing crisis could arise, government will have to cut back on essential commodities, and small business would be most likely

Related Documents