Monday, September 26, 2011

Greece nears the precipice, raising fear.

Greece is in a very delicate situation. In the article of the New York Times, we can see the possible outcomes of the Greek economy. Some specialist talk about default and some others talk about a return to the drachma, the currency before the euro. The Greek debt is about 370 billion Euros, bigger than the debt Argentina had in its past crisis and bigger than the Russian. The future of Greece we don’t know but the possible outcomes of the crisis are devastating.

OPINION:

As I said the Greek situation is very delicate and they possible aids it may receive are also very delicate. In the articles I’ve read some possible solutions and none of them show a bright future for Greece. One of the solutions to the crisis would be the default; this would be the best for Greece because it would be relieving Greece from paying the debt but it may have negative consequences for countries like Italy or maybe Spain. Can Greece receive more help from other countries? In this times Europe should be together and help everyone in the union, but Greece has receive a lot of financial aids already, there is a lot of controversy with this issue. I think Greece shouldn’t be left alone in a moment like this, Greece is not only a bunch of banks politicians and if they exit the euro or they are left bankrupt they may be some very negative consequences for the Greek people. I personally have a very strong affection for Greece since I have family there and I lived there for some time, and it’s quite sad to see how it has degraded into riots and chaos. I would like to see your opinion, should Greece exit the euro zone and be left on its own to avoid giving them more economic help?

1 comment:

  1. What to do with Greece? That's the big question. I have personally followed Greek's current situation and in my opinion, its future doesn't look very promising. We could complaint about Greek's "mismanagement" and the disastrous consequences that those actions have caused to the EU, especially the euro zone countries, and most important, Greek citizens, that are directly struggling with their country situation.
    I agree with Pablo; Greece shouldn't be left alone. This would give a very bad image for the EU, especially for international investors. In addition, it isn't only Greece; Italy, Portugal and Spain or PIGS are also "muddying" the rest of the countries, and if the first goes down... well, I don't even want to think of the consequences! Yes, I do think that Greece should be helped; however, to what extent are the countries willing to pay off for Greek's debt?

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