Greece's Financial Crisis : Greece

1796 WordsDec 3, 20158 Pages
Introduction: Greece’s financial crisis has been in existence for almost two decades, and unfortunately is still widely unknown what has caused this prolonged catastrophe. The general population does not necessarily know that this economic crisis originates to a mistake made years ago, not due to the recession in 2008 that an abundance of countries around the world suffered. Greece intended to join the Eurozone, a group of European Union nations whose currency is the euro, in 1999. Initially, Greece was denied admittance due to its poor economic standing. After approximately three years, Greece was able to pose a fabrication of its own economic success, constituting a healthy economy, and meeting all financial goals that existed (Hahn). Once admitted into the Eurozone, Greece maintained the lie they initially had created in order to keep the euro as its currency. As anticipated, Greece’s budget deficit increased exponentially and soon led Greece into a recession, in which promulgated the truth of its economic stability. Greece is at fault for its own economic crisis and if it did not join the Eurozone, there is a large probability Greece would be an economically stable country. International issues around the world are often ignored, individuals tend to have the mentality, “if its not happening here, then I do not care”. It is unfortunate, that world issues go unnoticed, which is why people should not be only aware of what is happening in Greece, but also other parts of
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