A chronology of key events in the history of Greece, from 1924 to the present. The main focus of this article is on the recent 10 years when the debt really began to take shape.
Greece is in a state of economic and financial crisis that's dominated global headlines. Vox's Matt Yglesias explains the real roots of the crisis as well as going into to policies implemented to help support economic struggles.
In this video, John Green discusses the history of Greece's deficit and debt problems, the challenges of adopting the Euro and living with the Eurozone's monetary policy. He also discusses the complications that come with using both monetary and fiscal policy.
This is a PDF of Greece's economic statistics over the past 10 years released by the Greek Government and the European Union. The common trend is an unhealthy downward slope with a minor improvement in 2017. This is not true for all statistics but can be seen as a common trend.
With the aid of either fiscal or monetary policies, stabilization policies can be implemented to assist the economy. Monetary policy best contributes to macroeconomic stability by keeping inflation expectations at a consistent level with price stability. A monetary policy provides the best framework for this medium to long-term goal.
The Greece debt crisis is a clash between the Eurozone's monetary and political system. EU leaders have argued over different approaches to take on the debt crisis, due to spending cuts and taxes being raised the Greek economy has shrunk 25% since 2008.