Causes of the Greek liquidity crisis; how conditions were before the crisis Events that happened

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Causes of the Greek liquidity crisis; how conditions were before the crisis Events that happened preceding the crisis
The structural economic support weakened –when Greece entered the euro zone in 2001 the convergence criteria which supposed to provide sound financial systems within the economy and the GSP were established to prevent financial and economic crises. Greece entered the euro zone without meeting the requirements of the convergence criteria, how this might have happened is due structural failures or a political failure of European leaders, this put Greece already at a disadvantage plus
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When the government sells these bonds there are many risk factors to take into consideration, the interest rates these bonds are sold at is one of the risk factors to consider. There are other countries with sustainable growths and it was assumed that those countries would lend a helping hand to Greece because if their policies worked in their countries then Greece would try and incorporate those policies in their own country. The sustainability of the Greece debt was almost guaranteed by the other member states with more stable monetary policies .Greece reached a point where its public deficit was three times higher than the previous government and this was a clear indicator that Greece was in a crisis and that it would take a long period meaning many years to pay back the debt, and it would need to be bailout.
The build up to the Greek crisis
Firstly In Greece, there were no systems to adjust money and credit growth, so money was spent by the government as the would see it fit to do so, there were loans made and loans repaid causing it to run large current account and fiscal deficits without taking any policy measures.
There were still some countries in Europe that had their own debt but it seemed that Greece was at its worst. The budget had been in deficit for many consecutive years.
They were small because fiscal shocks were smaller and, more importantly, because the
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