Introduction

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  • Created by: Chloe
  • Created on: 07-01-13 17:35
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  • Introduction
    • Economic ideas and concepts mentioned
    • Causes and consequences of economic crisis in Greece
    • Comparison with Argentina's situation 10 years earlier
    • Situation that has arisen in Greece
    • To reduce government debt and its implication
    • Greece is facing whether to default (not pay back) its debts
      • Would allow Greek government to start again
      • Cause Greece to lose credibility internationally
    • Comparison with Argentina
    • Although the implications for Greece and Argentina are similar, there are differences between the countries
  • Moral (and political) implications during times of economic crisis
    • Introduction
      • Economic ideas and concepts mentioned
      • Causes and consequences of economic crisis in Greece
      • Comparison with Argentina's situation 10 years earlier
      • Situation that has arisen in Greece
      • To reduce government debt and its implication
      • Greece is facing whether to default (not pay back) its debts
        • Would allow Greek government to start again
        • Cause Greece to lose credibility internationally
      • Comparison with Argentina
      • Although the implications for Greece and Argentina are similar, there are differences between the countries
  • Human costs from economic crisis seen as a negative externality also hard to quantify
    • Austerity measures on Greece partially been imposed by EU leaders
      • aim of measures ensure Greece receives financial assistance thus prevent a total default on its debt
    • Resulting in Greece leaving the euro (maybe even the European Union)
      • Causing financial shock waves throughout the European Union and the World
        • Argentina defaulted on government debts
          • Caused Argentina to suffer
        • Argentina enjoyed relatively good economic growth since 2003
          • Both causes (policy decisions based upon their exchange rate regime) and the fact that shocks imposed upon Greece and Argentina
            • Caused by issues outside of their control exposed the poor economic decision making
              • Made the crisis worse
              • Both causes (policy decisions based upon their exchange rate regime) and the fact that shocks imposed upon Greece and Argentina
              • Relationship between International trade and economic efficiency and competitiveness
                • Austerity- The term 'austerity' originally was associated with the idea of being 'severe' or 'strict'. Now it is related to the idea of a government reducing its deficit by increasing taxation and/or reducing its expenditure.
                • Comparisons made between Greece and a developing country show how far Greek economy has fallen

                  Comments

                  Holly

                  This is just what i was looking for :)

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