Greece

Business Research Issues & Analysis |

Individual Report |

Kumba Jallow |

Manvir Chauhan P10554551 |

Word Count: 4,103 |

Executive Summary

This report is based on the recent situation with Greece and its economic downturn in the economy. This report will cover what Greece was like before the crisis, during the crisis and the effects of it. Within the report, the main question that will be investigated is “What is the most beneficial outcome for the Greek economy for the benefit of both Greece and the European Union?” This question can have several possible outcomes, four have been chosen in particular, A European Union bailout involving a 50% write off of debt; a European Union bailout involving a full write off of the debt; Greece leaving the European Union and Greece pulling out of the euro currency and going back to the use of the Greek drachma. To discover the best option for Greece itself as well as the European Union, two research objectives have been put into place so that the report reaches its goal, these objectives are:

1. What has caused a country which saw stable economic growth during the mid-1990's, to the point of massive financial turmoil?

2. What actions can countries take within the EU take to help Greece without worsening their own position of their economy and their position within the EU?

Contents Page

Executive Summary 1

Critical Literature Review 3

Methodology 6

Greece and the Economic Downturn 7

Conclusion and Recommendations 12

Appendices 14

References 17

Critical Literature Review

Jerome L. Stein, 2011, The Diversity of Debt Crisis in Europe, pp199-215

This article gives an overview on the foreign debts of the European countries that are currently suffering the most. It covers other countries and not just Greece but Portugal, Ireland as well as Spain. The report gives insights into how the crisis are attributed to government budget...