Greek Crisis Case Study - 1376 Words

The Greek Crisis Case Study Kevette Woolfalk Georgia College and State University WMBA6030 Global Business Dr. Doreen Sams Table of Contents Introduction 2 Is Greece Responsible for the Crisis? 3 Alternative Solutions to the Greek Crisis 4 Conclusion 5 References 6 Greek Crisis Introduction At one point in time Europe operated as a zone of trade barriers which made doing trade beyond the border basically impossible. However, this all changed when World War II absolutely overcame Europe. Europe now had to find a way to rebuild even if it meant getting rid of the trade barriers. Other countries began to come on board because getting rid of the barriers required a minimal cost of doing trade, which ultimately became the†¦show more content†¦However, let’s fast forward now, Greece has already been given a couple of bailouts and still is stuck in a sink hole. Who’s to blame for the crisis in the first place? Are there alternative solutions to keep Greece’s head above water and which solution is best for Greece and the Eurozone? These are a couple of questions that will be addressed throughout this case analysis. Hence, the purpose of this case analysis is to review the debt crisis in Greece and recommend alternative solutions to it. Also, this case analysis will provide an overall background of Greece, along with the origins of the crisis, and what steered the extent of it up to this period in time. Lastly, each alternative solution will be reviewed and evaluated to determine which is the best alternative solution. Is Greece Responsible for the Debt Crisis? The situation in Greece is really catastrophic. It almost seems as if Greece is between a rock and hard place. The government has been spending carelessly for decades coupled with the manipulation by banks and controlling assets, the country was like a volcano ready to erupt. So, when the recession in 2008 finally hit, Greece didn’t have the capability to solely raise their way out like the rest of the countries in the Eurozone. You would think if they printed more money this would solve the problem but Eurozone would allow such a thing. So, the government legislated tax inflation and expenditure cuts but couldn’t getShow MoreRelatedThe Principles Of Macroeconomics : Greek Depression Essay1320 Words   |  6 PagesSection 1 Case Study for Principles of Macroeconomics: Greek Depression Unlike microeconomics, macroeconomics concerns the economy as a whole. It evaluates those key issues like: inflation, GDP and employment rates. It deals with the structure and behaviour of the economy as a whole. Rather than considering the markets as individuals, people in the macroeconomic field develops models to analyse the correlation between consumption, output, inflation, and other international related indicators. 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