B5 BME - The Greek Crisis - 22nd July 2015
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Transcript of B5 BME - The Greek Crisis - 22nd July 2015
THE GREEK CRISIS
A WALK THROUGH
Navigated byGroup B5
OVERVIEW
• Introduction ( The Eurozone)
• Greece & her Problem
• And What Caused it ?
• How does it matter to us and the rest of the World ?
• Conclusion : Should Greece Stay or Leave ?
1THE EURO-Z0NE1999 Euro-Adoption as virtual currency
Lithuania - the 19th country to join the Euro Zone in 2015
2002 Bank notes & Coins go into Circulation
2010 The Crisis begins Greece Affected First
Greece Adopts Euro 2001
2
050
100150200250300350400
247.67273.38
318.69354.26
329.86299.32 288.79
249.53 242.23 237.59
GDP of Greece 2006-20152006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Year 2006 - 2015
GDP
in P
erce
ntag
es
GREECE & HER PROBLEM
Debt is now 177% of the GDP
Deterioration in Financial Situation
Structural Imbalances
Possibility of IMF loan defaults
3
56 Billion Germany
42 Billion France
32 Billion IMF
Who owns the most debt ?
….and what caused it ?
327 BILLION
Total Greek Debt
Falsified Figures to Become an European Economic
& Monetary Union (EMU) member
High Government Spending
Adoption of Euro Currency
Low Tax Returns
Generous Pension Schemes
4HOW DOES IT MATTER TO US AND THE REST OF THE WORLD ?
GrExit could be disastrous for Greece
Whatever the out come, it will have a knock out effect in other countries
The US is worried
If Greece goes other countries will follow
The global economy wont like it
India may not be spared
THE CONCLUSION
5
Bring back the Drachmas ?Agree to the Austerity plan ?
Leave Eurozone, But stay in the European Union ?
THANK YOU
Designed & Presented byAkhil Antony 15003 Ashika Jones 15022
Kavitha 15054Bobby 15027
Viola 15120
REFERENCES
www.bbc.comwww.bloombergview.comwww.quora.comwww.tradingeconomics.com/greecewww.greekcrisis.co.inwww.forbes.com