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Free Example of The Greek Crisis and Implications Essay

The current financial situation in Greece is no doubt alarming. A good understanding of the situation could be grasped by hypothesizing the role of a central bank as a regulator of fiscal policy. There is also a need to understand the interaction between the macro-economic and micro-economic ideals to produce inflation.

There is no doubt that Greece is undergoing a serious economic recession.  Although some may think that the problem emanated from banks, the actual move by lenders must have been necessitated by macro-economic pressures which led to people asking for their money back. Another significant situation entails the political economy. In Greece, the Central Bank must have been controlled not to function as expected.

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There is no doubt that Greece’s crisis would affect other economies in the UK and U.S.  A closer scrutiny of the immediate repercussions for Greece reveals that the failure of the country to pay its debts may lead to it leaving the Euro Zone and going back to its currency. To other economies, the act of European Commission, IMF and European Central Bank of buying bonds wound affect banking sectors of other countries. This would adversely affect our businesses as players in the export business.

Although the crisis is still hitting hard, there are options for Greece. First of all, Greece could write off its debts so that Greeks pay themselves over a period of time. In other words, Greece can restructure its debts. The other option for Greece is to threaten to leave European Union; a case that would leave creditors with nothing. Greece could also convince Euro Zone members to save Greeks than to save the lenders.

Therefore, we would rather influence the leaders of Greece to restructure their debts so that Greeks will pay it instead of other economies.

Yours faithfully,

Code: writers15

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