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Source data on the level of governent debt in Greece.Evaluate the extent to which the greek...

Source data on the level of governent debt in Greece.Evaluate the extent to which the greek government can continue to service this level ofdebt.

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Answer #1

Debt crisis in Greece surfaced in aftermath of financial crisis of 2007-08. Present debt to GDP ratio is 178% which was 180 % in 2016. After introducing reforms in economic system, there is some pick up in growth rate of Greece, but still unemployment rate is high and productivities are falling.

Bailout packages were announced by the IMF, and European central banks in 2010, 2012 and 2015 but crisis still persists. it is becoming difficult to service debt of country. If government still does not introduce more reforms to increase tax collection and reduce expenditure, it will definitely default on loans.

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