Submitted by: Submitted by irenenism
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Pages: 12
Category: Business and Industry
Date Submitted: 04/20/2016 07:09 AM
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FIN 4007 International Finance
L03
Greece Debt Crisis _Written Report
Cheung Lai Po
s126689
Chiu Kam Ho
s126716
Lai Hiu Tung
s126895
Content
1. Objectives of the study
2. Background of Greek
3. Causes of Greece Debt Crisis
4. Impacts of Greece Debt Crisis
(1) Economic
(2) Social
(3) Others
5. Policies and Solutions by the Greek government
6. Suggestions on actions of the Greek government
7. Conclusion
1.
Objectives
This study aims at investigating the recent situation of Greece through analyzing the causes
and impacts of Greece debt crisis. Solutions suggested would help prevent it from happening
again and learn a lesson.
2.
Background of Greek
I. Social
Greece is a developed country with high standard of living. The human development index of
Greece ranked 27th in 2008 and still ranked 29th and valued 0.865 in 2014 in the world,
which indicates a very high human development category amoung 187 countries. Between
1980 and 2014, Greece’s HDI value increased from 0.713 to 0.865. There is an increase of
21.3 percent.
Table A reviews the trend of each HDI indicators of Greece. Between 1980 and 2014, the life
expectancy of Greek at birth increased by 7.2 years, meanwhile expected years of schooling
increased by 5.9 years and mean years of schooling increased by 3.7 years. The GNI per
capita of Greece increased by about 15 percent between 1980 and 2014.
Figure 1 below shows the contribution of each component index to Greece’s HDI since 1980.
II. Economy
The main industries in Greece are tourism and shipping. Her national income are mainly from
these two industries. Greece joined in European Union(EU) in 1981and adopted the Euro as
her currency since 1999. It brings certain benefits to Greece after being a member of EU.
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