Greece’s Problems
- Greece’s economic Structure
Economic contribution ratio in GDP
Greece’s Problems
- An increase in public debts
Greece’s Problems
Eurozone Entry
Sub-primeMortgage
Crisis
Demaged keyindustries
Crisis
What is the solution?
Short-termTask
need to extend exchange risk hedge
Lont-termTask
balance the export and the domestic demand
1. Introduction
"Europe's crisis is all about the north-south split."
Alan Greenspan, who was the former U.S. federal Reserve Board (FRB) Chairman, said the situation of Eurozone Crisis as follows. Due to high savings rate and low inflation, northern european countries have been known for frugal countries before the Euro appeared. On the other hand, southern European countries had low savi
crisis, the bankruptcy crisis of the Southern European countries. With euro’s crisis, countries scheduled to join the eurozone are struggling to choice.
So, We are understanding about the causes of the crisis and the correlation between the economy and the euro. Then we will predict the choice of countries scheduled to join the eurozone, through Compare the euro using countries with the unused
Overall condition of non-Eurozone
Many people think Europe debt crisis raised only by Eurozone countries.
Hungary is not included country as Eurozone. But early 2012, Hungary faced a crisis.
Czech had high economy stability throughout Europe but now the value of money has declined.
Non-Eurozone countries are also getting hard times.
The countries wanting to join Eurozone are of two minds
NATIONAL PENSION
Obligation of sign up for IKA (Social security institutions of Greece)
Monthly, pay 44.08%(employee16.00%+employer28.06%)of income
-> Get back as pension after retirement (at least working 15 years)
EKAS
Minimum living cost
65years↑
Pension1
Employee
Farmers
Official
Pension2&3
2: Personal saving system
3: Temporary salary system
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