EU Bailout of Greece Name Institutional Affiliation Date History of financial bailouts Greek’s economy was good for many years. The economy was of high income and it was among the top countries based on the living standards of most of its citizens. In the 2000s the economy expanded with high rates because of the booming tourism industry at the time. One may wonder how Greek got itself into such a mess. The Collapse of the Wall Street is an incident that happened in 2008 and it resulted to great effects especially to the countries whose markets were closely linked to the financial markets in the United States. Greek was among the countries that were hit hard and its debt records were recorded highest in 2009 CITATION The16 \l 1033 (Times 2016). After announcing their deficit figures Greece was restricted from borrowing in the financial markets and by 2010 the the austerity measures that are speculated to cause the crisis in the first place or leave the EMU. The core countries in the EMU are Italy Greece Spain Portugal and Ireland. Incase Greek leaves the EMU these periphery countries may wonder how tight the austerity of the euro really is and may be moved to get away from the EMU. References BIBLIOGRAPHY CFR. (2017). Greece's Debt. Retrieved 3 7 2018 from cfr timeline: https://www.cfr.org/timeline/greeces-debt-crisis-timeline CNNMoney. (2010). CNNMoney. Greece accepts bailout package . Petroff A. (2015 August). Greece: Third bailout to start Thursday. Retrieved 3 7 2018 from CNNMoney: http://money.cnn.com/2015/08/18/news/greece-germany-bailout-vote/ Smith H. (2013). Greek unions vow to step up protests over stringent austerity measures. The guardian . Staff R. (2017 May). Greek private sector bank deposits fall slightly in April. Retrieved 03 07 2018 from reuters: https://www.reuters.com/article/greece-banks-deposits/greek-private-sector-bank-deposits-fall-slightly-in-april-idUSA8N1H702F Times T. N. (2016). Explaining Greece’s Debt Crisis. The New York Times . [...]
Using the outline below, please write 5 pages (double spaced) with the appropriate in text citations as well as bibliography. I have included the following sources for your convenience but, as long as the sources are legitimate, you are welcome to use your own as well.