Reference no: EM131631826

Essay Question:

A Greek crisis has been continuing since the financial position of the Greek economy became exposed during the GFC. However, support from the European Union and the international community have averted a crisis to date with austerity measures showing that Greece was tackling some of the big issues. In the past few weeks the Greek community have demonstrated on the streets arguing that they do not want to continue with the austerity measures and they have now defaulted on repayments.

You should discuss the key areas below by presenting all sides of the arguments using supporting evidence for your arguments. Critically evaluate the arguments to draw conclusions on the topic.

Key reference areas:

Financial innovations that initially helped Greece to obscure true debt levels