those factors put the economy into debt in Greece is Greece joined in 2001 and became the 12th member of the eurozone.va Greece must achieve economic qualify as the economy has proven healthy, meet the criterion on price stability and public finance. in 2000-2003 has been declared the policy space of Greece as the data increased the lead to budget deficits in order to join the euro because, since 1999 until now it has never been below 3% of GDP deficit. then in 2004, the Greek organizations and the Athens Olympic Games to € 9 billion to spend, this is a very large amount is considered to be the Olympics ' most expensive ' in dusty course, constructions built for the athletes, the fans and the media then hardly used and increasingly degraded, leaving the country awash in huge debts. Since it was put on the Greek debt situation, the debt crisis lasts till now. Because the Olympics have increased the public debt and budget deficit of the country. Besides, in December 2009 the credit rating agency Fitch has confirmed the country's GDP deficit up to 12.5% can, thereby strengthening credit lines increased by lowering Greece since when this country cannot afford the economic recovery after the financial crisis. from the Greek policy reasons "austerity" composed of state employees ' salaries were cut to accept, stop paying pensions and increased taxes on tobacco, alcohol and petrol has led to a backlash delegations. elevator explode violently and protesters may 2010, the international Monetary Fund (IMF), three European Central Bank (ECB) and European Commission (EC) has granted the first bailout for Greece worth € 110, on concern the economy will affect the entire region, as Greece makes it continued tightening in return for the bailout, sparked the opposition protests. To date, the country has received two bailouts totaling 240,000,000,000 €. In 2011 despite the debt has been reduced, but it still cannot escape the financial troubles lead to individual investors will only receive 50% of the value of Greek bonds they are holding. In 2012, Greece was deemed insolvent. Go deep into this issue, we learned that the public debt of Greece has exceeded the control with the poor management makes about the country's debt extended to 3 years is not done. The new government has declared the country's statistics admit that budget deficits are not honest and transparent. Actually, the deficit of the country in 2009 was 13.6%, 6.7% of GDP is not, as it has been reported. Plus the global economic crisis has put Greece gradually donation two important sectors such as tourism and shipping eels than 15% decline, and to finance budgets shrinking, while the government still has to strengthen public spending to support the economy to overcome the crisis, which has pushed public debt huge numbers in 2010, the OECD report shows that Greece's public debt has increased to some 330 billion euros , equivalent to 147.8% of GDP and the debt of Greece by 2012 has increased to 172% of the GDP. Due to a deeper economic downturn, although committed to the austerity policy to reduce the budget deficit, but the well-known deficit in the first eight months of 2011 reached € 18.1 billion Greece (24670000000 USD), up from € 14,813 billion in the same period last year.To minimize the economic crisis and debt, Greece should fix the problem on a technical way such as repelling as negative issues in the country. It is considered as lessons for developing countries.
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