The Greek Financial Crisis POLS 360 Fall 2024 The 2008 Euro Crisis government debt Similar time frame to the US banking crisis Remember the Maastricht criteria Small budget deficit and decreasing Greek officials cheated their debt statistics for years in order to maintain a How does this affect the rest of the Eurozone stable appearance to investors and EU officials in Brussels Round 1 2010 2013 Greek bailout by the European Commission European Central Bank and the IMF The Troika Issues with conditionality and the democratic deficit Austerity and structural reforms who does it affect Round 2 2015 Greece is unable to repay its loans from the Troika threat of default What are some of the repercussions for defaulting on a loan Extremely tense situation in Greece in June July accept more conditions for more money or default on the loans July 5th Referendum 61 approval The aftermath The Grexit What would it mean for the EU and the Euro itself A country has never left the EU nor is there any real mechanism by which it Creation of a new currency could leave The Bailout Protests against EU Deal https www youtube com watch v Wf5C v5DrQE Yes or No The Referendum https www youtube com watch v reU7wWgFmDU End of the Bailout https www youtube com watch v jUqv5X6GqvY Greece Today https www youtube com watch v Pd1Dr4AUFns