Globalization Study Greece Economic Crisis
Greek economic crisis
Introduction: In September 2009, Greek economic crisis exploded. Greek government announced that the country’s financial deficits and public debt to gross domestic product would be along about 12.7% and 113%, which are far from the provision of European Union: 3% financial deficit and less than 60% public debt to gross domestic product. Moody’s, S&P and Fitch, the three major credit-rating agencies, all reduced the credit-rating of Greece. The direct cause of this crisis is government’s massive deficits. However, besides Greece, there are other European countries also belonging to European Union; face a similar problem, such as Portugal, Ireland, Italy and …show more content…
So, we can fairly say that it is the main purpose of London’s financial hub to make the dollar’s situation safe now as it will be a long time before EU can challenge the US dollar.
In my opinion, every great change in this world is controlled by the super powers, to become more powerful they make other countries weak. After Japan, Southeast Asia and Europe, who will be next? The wolf will find different ways to weaken other countries in order to