The Greek Financial Crisis: A Failing State?

The financial crisis in Greece currently accounts for the majority of our daily news In this article we will explore why financial disasters are important for the essence of "crisis", related stakes and international relations studies . Extreme debt problems in Greece may be related to the global financial crisis (GFC) that has struggled the world since the end of 2007 (Murse, 2011). According to the statistics, we had to tell everything, the Greek fiscal deficit in 2009 was 12.9% of GDP and the total debt was 113.4% of GDP (Applebaum, 2010).

The Greek financial crisis was a series of debt crises that began with the 2008 global financial crisis. Its root is not an exogenous international factor, it lies in the inadequacy of the management of Greek economy and government finance. In order to solve these problems, Greece's accession to the euro area makes it impossible to fully control its monetary policy, so the interest rate is longer compared to the inflationary pressures formed in the Greek economy It will be too low for too long. Greece has been plagued by poor economic management and misrepresentation of economic performance of the government, but investors have failed to accept and adopt more and more warning signs.

Just a few years after the financial crisis in 2008, in 2013, I became a member of the blacklock financial market advisory group working at Greek central bank and valued the capital requirements for Greek bank relief. About 20 bank executives were taking lunch breaks at the top floor of the Athens Bank Building, and I caught a glimpse of the window and saw a lot of people on the street. For a while, I thought it was a parade, then I noticed that it was between protest and riot. When I saw the enthusiastic crowds below and the window-wide authentic bankers from the window, I wondered if I really helped people other than those who ate lunch with me.

The Greek government debt crisis (also called Greek recession) is the sovereign debt crisis Greece faced after the financial crisis of 2007-08. In that country's well-known crisis (Greek: Greece) it reaches the population through a series of sudden reforms and austerity measures, leading to poverty, income and property loss, and a small humanitarian crisis. Overall, the Greek economy has experienced the longest recession in any advanced capitalist economy so far, outperforming the Great Depression in the United States. As a result, Greece's political regime was destroyed, social exclusion expanded, hundreds of thousands of highly educated Greeks left this country.