Personal Statement For The Greek Debt Crisis

There is a widespread concern about rising levels of debt. Debt can become disastrous for those who live alone or those families who are already having problems with supporting their family. The people who might be struck by debt, they might have trouble recovering. Debt can cause Americans to lose their homes and stability they need to feed, and shelter their families. Although debt comes upon us Americans quickly, people can see debt as terrible thing to be stuck with. It has many disadvantages that can devastate to people.

There are several reasons as to why I settled on MBA - Finance as my concentration of choice. First and foremost, from quite an early age, I had a great liking for analytical subjects. Indeed, I found mathematics more interesting than science subjects. This is a passion that has continued to propagate in me and for this reason; I would say that my selection of the said concentration comes naturally. Next, my concentration of choice happens to be in line with my long-term career goals. As I have already indicated elsewhere in this text, I intend to become a finance director in a reputable organization. I view an MBA in Finance as a stepping stone towards this particular goal. It is important to note that competition for jobs in the

I did awful on my final, which was a grammar quiz. After taken this course, I realized Accounting was the field for me! Before I started my program at University of Phoenix I had trouble with proper grammar. I believe I have grown in this area because University of Phoenix offers excellent resource materials and services, such as the library and the lab. I have learned that professionally or personally I have to be proficient in writing. Businesses have to know that they trust that I can put an important document together error free. Another course that impacted my life was MTH208/209. Both of these math courses were not hard however, MTH208 was a refresher algebra course. My high school focused on accounting so I was proficient in this area. I absolutely love math! Both of these courses focus on college algebra. By taking MTH 208/209 I realized how much I have forgotten since high school. This course impacted my decision to progress and earn my master’s in business in accounting. Math is relates to anything an individual does such as scheduling appointments, jotting down milling information, and keeping track of hours worked on a time sheet. My personal, professional, and educational goals will vary for the next five years. After obtaining my bachelors of science in management, I am going to take some time to self-reflect. I will reflect on what I have learned over the past four years at University of Phoenix. After I have

Many Americans today are aware that the United States is in debt, however, some may not realize by how much. Currently, the United States National Debt is up to 18 trillion dollars and is steadily increasing. This is a serious problem for the U.S., especially for millennials, who are going to be the ones living and dealing with the debt left behind for them. Increased spending, borrowing from China, and interest on the money borrowed are setting up our economy for an eventual crash, one that the upcoming generation may not be prepared for. Every dollar that accumulates into the debt will have to be repaid with interest at some point, making it harder to pay back. To gain a better understanding of how the U.S. dug itself into such a deep hole, one should start at the beginning of where the debt started.

Murray, S. (2011). What the Government Debt Crisis Means to You. Retrieved from The Wall Street Journal. http://online.wsj.com/article/SB10001424053111904800304576478621267758678.html?KEYWORDS=national+debt

Debt is something many individuals can relate to, especially, students. Taking student loans, it is not amusing or thrilling. Nevertheless, it cannot be compare to a whole nation in crisis.The US and many other nations experienced a credit crunch 2007-2008 that led to the economic crash 2008-2009, which led US to a catastrophic state from that point and on. While looking at this map and comparing several countries in the globe, there is a possibility that this crisis could have been better handled had the nation taken a more symbiotic approached. First, it seems as if the US could have borrowed less and Second the US could have implement other measures to help the economy re-growth.

Everyone is in debt and the education that is supposed to help us for the future has done nothing to prepare us for it. The many news stories and articles have shown us the reality of the world’s economic flow. Students straight out of high school and college getting in debt and not knowing how to fix it or even how it happened in the first place. The millions of dollars needed to quench the thirst of companies that only want more. This could be reduced if the students were only taught the way to handle money, but only the ones who know that need to prepare early try to learn. Although people think it should be up to the parents, financial management has to be a required course for the United States education to help prepare the students for

I started developing a strong interest in finance during my undergraduate studies. My interest in finance was first aroused during my first time investing part of my monthly scholarship in Kuala Lumpur Stock Exchange. Since then, I became

Ever since the end of 2009, Greece has been involved in a financial and economic crisis that has been record breaking and shattered world records in terms of its severity and worldwide effects. The Greek government, since the beginning of the crisis, has attempted to take several governmental measures to try and “stop the bleeding,” including economy policy changes, dramatic government spending and budget cuts and the implementation of new taxes for citizens. In addition to this, the government has tried to alter the perceptions of Greek government and economy by the rest of the world in an effort to appear both more liberal and more democratic. Greece has also been working to privatize many previous

The Eurozone is facing a serious sovereign debt crisis. Several Eurozone member countries have high, potentially unsustainable levels of public debt. Three—Greece, Ireland, and Portugal—have borrowed money from other European countries and the International Monetary Fund (IMF) in order to avoid default. With the largest public debt and one of the largest budget deficits in the Eurozone, Greece is at the centre of the crisis. The crisis is a continuing interest to Congress due to the strong economic and political ties between the United States and Europe.

In 1999, ten European nations joined together to create an economic and monetary union known as the Eurozone. Countries, such as Germany, have thrived with the euro but nations, like Greece, have deteriorated since its adoption of the euro in 2001. The Eurozone was created in 1999 and currently consists of eighteen European nations united under the European Central Bank and all use the euro. The Eurozone has a one point six percent inflation rate and an eleven point six percent unemployment rate in 2014. Greece joined the Eurozone in 2001 and was the poorest European Union member at the time with a two point six percent inflation rate3 (James, 2000). Greece had a long economic history before joining the Eurozone. The economy flourished from 1960 to 1970 with low inflation and modernization and industrialization occurring. The market crash in the late 1970’s led Greece into a state of recession that the nation is still struggling with. Military failures, the PASOK party and the introduction of the euro have further tarnished Greece’s economic stability. The nation struggles with lack of competitiveness, high deficit, and inflation. Greece has many options like bailouts, rescue packages, and PPP to help dig it out of this recession. The best option is to abandon the Eurozone and go back to the drachma. Greece’s inflation and deficit are increasing more and more and loans and bailouts have not worked in the past. Leaving the Eurozone will allow Greece to restructure and rebuild

The economic crisis of 2008 in New York had ripple effects around the world, causing deep structural problems within the European Union to crumble the economies of several countries. These countries, known as the PIGS, are made up of Portugal, Ireland, Greece, and Spain, and collectively hold most of the sovereign debt problems of the European Union. After fast growth early in the decade, these countries were spending too much money and not securing their own banking sectors with enough capital. Soon, the debt the PIGS owed caused massive problems throughout the EU, and Germany and France had to come to the rescue of these poorly managed countries. (Greek Crisis Timeline, 1) Now, in 2012, the issue has yet to be fully resolved. Greece is still sinking, and a massive bailout for Greece's banks is required. The debate is whether Germany should continue bailing out Greece and collecting interest on its loans, or whether Greece should try to separate itself from the broader European Union, in an attempt to manage its own finances and declare bankruptcy in order to save itself from crippling interest payments. Each path offers an escape from the present situation that Greece finds itself in, but only the path of bailout results in a harmonious European Union. If Greece fragments off from the EU, then the entire union is weakened as a result. I believe that Greece should accept the terms of the bailout that Germany has provided, and should undergo several years

The European sovereign debt crisis, which made it difficult or impossible for some countries in the euro area to repay or re-finance their government debt without the assistance of third parties (Haidar, Jamal Ibrahim, 2012), had already badly hurt the economies in “PIIGS”, Portugal, Ireland, Italy, Greece and Spain. This financial contagion continues to spread throughout the euro area, and becomes a dangerous threat not only to European economy, but also to global economy.

There are many causes for the debt crisis to start. Before world war II Europe had very strict trade barriers between countries examples being currency exchange fees and trade tariffs. Then World War II happened and was so detrimental to Europe they couldn’t continue to have such strict trade barriers. The barriers were then slowly removed with the first barrier removal being steel and coal. This worked well enough that it caused twenty-seven countries to sign the Maastricht Treaty thus forming the European Union (UN). This made trading throughout all Europe easier which caused more trade to occur within Europe.

The debt crisis was know as financial crisis and defined as a point of a country's foreign debt accumulation exceed it's earning power and the country has no ability to repay the debt.