Today we talk of crisis.
Especially that of the country that is doing more talk about at this time, Greece.
The origins of the Greek crisis: How did the crisis in Greece
There we wondered a bit 'all ultimemente: how did the crisis in Greece?How can a country go to the brink and end up in default, even blocking the accounts of its citizens?
You think about it? What would you do if your bank will prevent you from taking the money that you have painstakingly put aside?
I would not really be in the shoes of the bank that would try to do it with my account;)
Apparently Greece, to come to that had a lethal mix between: the global economic crisis, corruption, rigged accounts and tax evasion.
The global economic crisis first of all put a strain on tourism and this for a country which is one of the main entrances is a big problem.
Then, to make matters worse is the fact that the greek government has admitted that he rigged the accounts in order to join the euro, stating a relationship between deficit and GDP to below 3% (maximum limit in order to enter Europe ), when in reality they had on 12%.
This in a nutshell it means that Greece had in fact an ability to repay its debt well below the minimum standards required by the European Union.
But this thing has behaved in reality?
Virtually it has triggered a vicious circle that has led Greece to ask for more and more money to heal its debts and it was covered by a little 'thanks to the corruption of some banks in the loan.
Then when the truth began to surface, Greece was downgraded moving from "A-" to a downgrading of the greek debt of "BBB +", which alas is the same of Italy ...
This in a nutshell it means that the interest rates for loans to Greece have become higher and higher.
The risk of contagion
The contagion effect it might have if because of unpaid debts from Greece to its creditors, these countries, short of cash, they were forced to turn to ask for loans.For this reason the total failure of Greece and its exit from the euro would be very detrimental to the entire European economic system.
Alas, in this case Italy is not putting well, since it is among the major creditor countries of Greece!
How can Greece out of the crisis?
The question now is: how can Greece out of the crisis?We are all asking that question, especially because at this rate we could do his own demise.
Certainly in the first instance Greece should try to solve two of its social ills: tax evasion and undeclared work.
It is estimated that for these reasons Greece loses every year about 30 billion euro of taxes!
Another factor that could contribute to the country's recovery would be the reduction of waste.
I will not go into detail, but in Greece it seems they throw away a lot of money unnecessarily.
Hopes for the future
But you are confident for the future?Do you believe that Greece and Europe in general can overcome the crisis?
If there can be a comfort, you may think that a few years ago there is also past Argentina and that despite ups and downs (and consequences), the country has still rectum.
But then what about after the war?
After World War II Italy and much of Europe were reduced to a pile of rubble, but after years of sacrifice there was a gradual recovery to a real economic boom.
So one would think that when you touch the bottom, if we went back to work, there is always the possibility to go back.
Kalimera at all, or Kalispera ... if you are reading the evening post :-)