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Greece Still Struggles

Greece Still Struggles. By: Joe Kiely and Matt Galman. What’s going on. Greece is in debt and cant find there way out of it. Countries of the Eurozone are trying to work together to support them but no solution has been made. There have been a couple of ideas for a solution. Solutions.

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Greece Still Struggles

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  1. Greece Still Struggles By: Joe Kiely and Matt Galman

  2. What’s going on • Greece is in debt and cant find there way out of it. • Countries of the Eurozone are trying to work together to support them but no solution has been made. • There have been a couple of ideas for a solution.

  3. Solutions • There will be a government meeting in February of finance officials disscussing new fiscal controls. • The EU is cracking down on Greece’s spending with many fiscal actions. • Bonds and loans will be used to pay off the debts of Greece.

  4. Consequece • The second bailout program will pay €130 billion yet if Greece doesn’t get this loan they will only have €14.4 billion by march 20th. • Greece will be forced to pay back the bailout with nothing less than a 4% interest rate. • If there is no solution they will have to go back to the Drakma.

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  6. Our Solution • If they want to borrow money, Greece needs to raise taxes in order to pay for government expenses, like raising salaries for workers. • Money spent also needs to be cut back so that the debt does not increase.

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