eurozone bailout

Understanding The Greek Bailout

by Five Fantastic Lawyers™ June 26, 2012 Banking and Finance Law

The Greece bailout situation is one of the most significant news stories of recent weeks and has dominated the headlines of newspapers and TV broadcasters alike. This article will highlight – in a simplistic manner – the cause of Greece’s debt, the knock-on effect for other European countries and the possible solution to the crisis. The Cause Of Greece’s Debt Greece’s precarious situation can be pinned back to 2001 when they deceptively joined the EMU (Economical and Monetary Union) by downplaying their levels of debt in order to pass the obligatory requirements of the group. Once Greece became a part of the group, they acquired the ability to borrow […]

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