The Economic Crisis Greece Has Faced Over Many Years Essay

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In examining the economic crisis Greece has faced over many years, it is interesting to focus on the time period from 2012 leading up to present day. Many aspects brought the economy to its current day situation. Focusing somewhat on the past could offer information about the causes of the dire situation and what has not worked in improving the conditions the country is facing. This introspection could offer information and provide options moving forward to enable the country to function in a healthier capacity.
History of Greek Economic Situation
It important to look to the past to see what the future holds in store. Historically speaking, the Greek economic downturn began in 2009 and is still looking grim. From 2009, to present day, the Greek people have been facing a decline in income, an increase in unemployment and an unstable political environment.
Greece aligned with European Communities (European Union) during 1981. This brought about economic growth for Greece and increased investments, the growth of industrial infrastructure, an increase in investments from the EU, increased tourism, an increase in shipping and exports and an increased standard of living the country had not previously known. During 2001, Greece converted to the euro and its GDP grew from $12.4K per capita in 2001 to $31.7K per capita during 2008. During 2004, the Greek government made strides to entice the European Commission, the European Central Bank, many private banking organizations

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